Power Breakfast: Dow Finishes More Than 600 Points Lower As Recession Worries Mount

On Wednesday, the Dow slipped 615 points to close at the day's low. Whereas, the NASDAQ fell 1.25% and the S&P 500 index fell 1.5%. IT, banking stocks declined the most. Apart from this, Microsoft will lay off 10,000 employees. Weak retail sales and worse-than-expected PPI data weighed on US markets. December retail sales fell 1.1% which is worst in a year. The producer price index stood at 6.2%, which is weaker than expected. Today all eyes on the housing and manufacturing data.