At the close of trade, the Dow Jones Industrial Average index dropped 171.69 points, or 0.5%, to 33,980.32. The S&P500 index was down by 31.16 points, or 0.72%, to 4,274.04. The tech-heavy Nasdaq Composite Index decreased by 164.43 points, or 1.25%, to 12,938.12.
Total 9 of 11 S&P sectors ended lower, with communication services sector was the worst performer, erasing 1.85%, followed by consumer discretionary (down 1.1%). Energy sector was the top gainer, up 0.8%
Shares of Target closed lower after the company reported weaker than expected second quarter earnings, as it cut prices in an effort to reduce excess inventory.
Lowe's Cos. gained after the home-improvement retailer reported better than expected earnings even as renovators wrestle with a slumping US housing market.
Cisco Systems Inc. gained in extended trading after the biggest maker of machines that run the internet and corporate computer networks, gave a bullish forecast for the quarter. Juniper Networks Inc. followed Cisco higher.
Among Indian ADR, Dr Reddy's Labs declined 3.1% to $52.19, Tata Motors fell 2% to $30.41, WNS Holdings declined 0.8% to $87.79, HDFC Bank fell 0.5% to $64.61, ICICI Bank fell 0.1% to $22.32, and INFOSYS was down 0.3% to $20.09. Azure Power Global added 1.2% to $11.38 and Wipro was up 0.4% to $5.50.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
