US stocks fell as trade tensions between the US and China escalated after President Trump accused Beijing of violating a preliminary trade agreement, causing Dow Jones to drop over 100 points.
Most sectoral indices on the S&P 500 were in the red, led by declines in information technology and energy, while consumer staples and utilities saw gains.
Inflation-adjusted US personal spending rose by 0.1% in April, with imports slumping almost 20% and the US merchandise-trade deficit narrowing significantly.
The yield on the 10-year Treasury bond remained at 4.42%, the US dollar strengthened against major currencies except the yen, oil prices declined, and spot gold fell to $3,293.38 an ounce.