On the 14th (local time), New York stocks slipped slightly as weak consumer data heightened concerns about an economic slowdown.
On the New York Stock Exchange that day, the Dow Jones Industrial Average finished at 53,732.41, down 107.58 points, or 0.20%, from the previous session.
The Standard & Poor's (S&P) 500 index closed at 7,785.76, down 13.23 points, or 0.17%, from the previous session, and the tech-heavy Nasdaq composite ended at 26,729.16, down 73.86 points, or 0.28%.
On a weekly basis, the S&P 500 and the Nasdaq rose 0.4% and 0.1%, respectively, marking a third straight week of gains. The Dow fell 0.6% this week.
Economic indicators released that day raised concerns about consumption, the core engine of the U.S. economy.
U.S. retail sales in July fell 0.6% from the prior month, the biggest drop in 1 year and 2 months since May last year (-1.1%). That was well below analysts' expectations for a 0.1% increase.
Such consumer data supported expectations that the Federal Reserve (Fed) will hold its benchmark rate in September. However, caution also grew over the potential impact of slowing consumption on the broader real economy.
U.S. investment analyst Brett Kenwell said, "A single month of weak consumer spending does not mean the economy is about to fall off a cliff, but taken together with disappointing gross domestic product (GDP) and employment data, it becomes harder to ignore."
Geopolitical tensions in the Middle East also weighed on the market. Tensions re-escalated after two more ships were attacked in the Strait of Hormuz and the United States said it could continue a maritime blockade against Iran indefinitely.