By Gokhan Ergocun
ISTANBUL (AA) - The New York Stock Exchange closed the last trading day of the week lower as US data indicated price increases accelerated on an annual basis.
The Dow fell 0.2%, or 92.02 points, to close at 45,544.88.
The Nasdaq dropped 1.15%, or 249.61 points, to close at 21,455.55. The S&P 500 was down 0.64%, or 41.6 points, to 6,460.26.
The Volatility Index (VIX), also known as the “fear index," rose 6.44% to 15.36.
US personal consumption expenditures increased 0.5% in July, in line with expectations; the core personal consumption expenditures price index, which the Fed uses as an indicator of inflation and excludes food and energy, also rose 0.3% month-over-month in July.
The index rose 2.9% year-over-year, the fastest in five months.
The US merchandise trade deficit increased 22.1% in July compared to the previous month, reaching $103.6 billion.
The merchandise trade deficit, which hit its highest in four months, exceeded expectations.
The consumer confidence index, measured by the University of Michigan, was revised downward to 58.2 in August.
While developments regarding US President Donald Trump's attempt to remove Fed Board member Lisa Cook were being monitored, the first hearing was held in Cook's lawsuit challenging Trump's attempt.
But no decision was reached on Cook's request to temporarily suspend her dismissal.
US Federal Housing Finance Agency Director Bill Pulte filed a new criminal complaint against Cook, alleging she made false statements about assets during her time at the Fed.
The New York Stock Exchange will be closed Monday for Labor Day.