U.S. Stocks crossed to the red zone. The Dow Jones industrial Average went down by 193 points and closed at 24,706.41after Home Depot reported quarterly sales that failed to meet Wall Street’s expectations. This decline brought to a halt a winning streak of 8 days.
The S&P 500 also lost 0.7 percent and settled at 2,711.45 due to weakness in the health care and real estate sectors. The Nasdaq dropped by 0.8 percent to 7,351.63 as Amazon, Microsoft and Google-parent Alphabet – all fell by more than 1 percent.
The weakness in Wall Street indices mainly stemmed from figures published by the Commerce Department according to which retail sales increased by only 0.3 percent in April compared to 0.8 percent in March.
Most Asian stocks were traded lower due to the geopolitical uncertainty related to North Korea and the rise in U.S. 10-year treasury yield to the highest level in seven years overnight.
Japan’s Nikkei 225 went down by 0.23 percent; the broader Topix shed 0.06 percent as mining and oil shares weighed. Banking stocks was also down. The Hong Kong’s Hang Seng Index shed 0.11 percent, extending losses seen in the last session. On Mainland China, the Shanghai composite and the Shenzhen composite went down by 0.28 percent and 0.04 percent respectively.