U.S. stocks retreat further amid geopolitical worries

U.S. stocks continued to decline Wednesday as investors became cautious amid geopolitical concerns.

The Dow Jones Industrial Average fell 59.44 points, or 0.29 percent, to 20,591.86. The S&P 500 lost 8.85 points, or 0.38 percent, to 2,344.93. The Nasdaq Composite Index decreased 30.61 points, or 0.52 percent, to 5,836.16.

The White House has accused Russia of trying to cover up the suspected chemical weapon attack in Syria, though U.S. President Donald Trump has said the United States will not launch a ground war in the Mideast country, according to Market Watch.

In addition, the Trump administration is also navigating rising tensions with the Democratic People's Republic of Korea (DPRK).

On the economic front, U.S. import prices declined 0.2 percent in March, in line with market consensus, the Labor Department reported Wednesday. In contrast, the price index for U.S. exports increased 0.2 percent in March, after advancing 0.3 percent in February.

Meanwhile, investors also kept a close eye on the earnings season, as JPMorgan Chase, Citigroup and Wells Fargo are set to report later this week.

Overseas, European equities closed mixed Wednesday. German benchmark DAX index at Frankfurt Stock Exchange rose 0.13 percent, while British benchmark FTSE 100 Index fell 0.22 percent.

In Asia, Tokyo stocks slid Wednesday, with the benchmark Nikkei stock index falling to a four-month low as geopolitical concerns sent the yen higher versus the U.S. dollar. Endit