Wall Street Indices Drop Amid Earnings Reports and Economic Data

Wall Street indices fell on Wednesday as investors assessed earnings from Bank of America and Citigroup. Retail sales and producer price data did little to change expectations for interest-rate cuts this year. The Dow fell 103.7 points, S&P 500 declined 26.3 points, and Nasdaq decreased by 146.0 points.

Wall Street's main indexes dropped upon opening on Wednesday as investors analyzed the earnings reports from major financial institutions, Bank of America and Citigroup.

The economic data on retail sales and producer prices did not significantly influence market expectations for interest-rate cuts anticipated for later this year.

The Dow Jones Industrial Average decreased by 103.7 points, or 0.21%, at the open, reaching 49088.25. Meanwhile, the S&P 500 saw a decline of 26.3 points, or 0.38%, to 6937.41, and the Nasdaq Composite slipped 146.0 points, or 0.62%, to 23563.916.

(With inputs from agencies.)