US stocks extended losses on Wednesday as investors digested a batch of generally downbeat economic reports.
The Nasdaq Composite Index was down 14.2 points, or 0.19 per cent, to 7,496.81.
Advance estimates of US retail and food services sales for February 2018 came in at $492 billion, a decrease of 0.1 per cent from the previous month, missing market consensus of a 0.4-per cent gain, the Commerce Department said on Wednesday.
"Retail sales continue to disappoint, especially the biggest ticket auto and furniture components. GDP estimates will be revised down again. With consumption now tracking 1.8 per cent, look for the Atlanta Fed to revise from 2.5 per cent to 2.2 per cent," said Chris Low, chief economist at FTN Financial, in a note.
In a separate report, the department said that manufacturers' and trade inventories were estimated at $1,917 billion in January, up 0.6 per cent from the December reading.
On an unadjusted basis, the final demand index increased 2.8 per cent for the 12 months ended in February.
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