Wall Street ended lower on Friday as investors remained cautious about economic outlook.
The U.S. Labor Department said Friday its Consumer Price Index was flat in April as both food and energy costs declined to offset gains elsewhere, meeting economists' expectations.
Meanwhile, the Federal Reserve reported that industrial production fell 0.5 percent in April, the smallest decline in six months. Economists forecast a 0.6 percent drop.
Another report on consumer sentiment from the University of Michigan indicated that the reading rose to 67.9 in May from 65.1 in April. The index reached a three-decade low of 55.3 in November.
In corporate news, GM said it will notify 1,100 U.S. dealers on Friday that their franchise agreements will not be renewed.
The Dow Jones industrial average fell 62.68, or 0.8 percent, to 8,268.64. The Standard & Poor's 500 index fell 10.19, or 1.1 percent, to 882.88, and the Nasdaq composite index fell 9.07, or 0.5 percent, to 1,680.14.
Source: Xinhua
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