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U.S. stocks slide amid economic data

Xinhua, August 3, 2016 Adjust font size:

U.S. stocks ended lower Tuesday, following a broad decline in global stock markets, as investors assessed the country' s consumption data.

The Dow Jones Industrial Average fell 90.74 points, or 0.49 percent, to 18,313.77. The S&P 500 lost 13.81 points, or 0.64 percent, to 2,157.03. The Nasdaq Composite Index went down 46.46 points, or 0.90 percent, to 5,137.73.

U.S. personal consumption expenditures (PCE) increased 53.0 billion U.S. dollars, or 0.4 percent, in June, the Commerce Department announced Tuesday.

In June, personal income increased 29.3 billion dollars, or 0.2 percent, and disposable personal income increased 24.6 billion dollars, or 0.2 percent.

Meanwhile, investors will also keep a close eye on Friday's nonfarm jobs report this week for more clues on the U.S. Federal Reserve's next move.

Overseas, the Japanese cabinet approved an economic stimulus package worth 28.1 trillion yen (274 billion U.S. dollars) on Tuesday to support Japan's sluggish economy in the wake of Britain's decision to leave the European Union.

However, the 225-issue Nikkei Stock Average tumbled 1.47 percent to 16,391.45 points Tuesday on a stronger Japanese yen.

European equities also declined broadly Tuesday. German benchmark DAX index at Frankfurt Stock Exchange dropped 1.80 percent, while British benchmark FTSE 100 Index lost 0.73 percent. Enditem