US mkts end lower amid ongoing worries over slowing economy

Dow Jones Industrial Average was down 0.39% or 49.88 points at 12727.21. Nasdaq Composite was down 0.4% or 11.53 points at 2896.94. Standard & Poor's 500 was down 0.23% or 3.14 points at 1353.64.

In earnings, Citigroup held small gains after the financial giant posted quarterly earnings that topped expectations. But revenue was slightly lighter than expected.

On economic data front, retail sales declined for the third-consecutive month; slipped 0.5% in June. Analysts had expected a gain of 0.2%.Meanwhile, business inventories gained in May to USD 1.58 trillion. And New York Fed's empire state manufacturing index rebounded in July to 7.39 from 2.29 in June.

In key data to watch out for in US today, industrial production is expected to grow by 0.3% for the month of June. Also consumer price index is expected to come unchanged.

In the currency space, the euro reverses some losses versus the dollar following poor retail sales data that boosted stimulus hopes.

In commodities, crude prices gain lifted by hopes that signs of economic slowing will prompt stimulus measures, especially in China. Brent is currently trading above USD 103 levels.

From the precious metals space, gold prices trade above USD 1590 levels ahead of Federal Reserve Chairman Ben Bernanke's congressional testimony.