Business

US stocks slide on oil and China trading figures

Trading on the NYSE Image copyright Reuters

(Close): Wall Street share markets closed down, reversing gains from last week, as oil prices dropped and China reported poor trading figures.

The Dow Jones index lost 110.26 points to 16,963.69 - having added more than 3% over the previous five sessions.

The S&P 500 was down 22.44 points to 1,979.32, while the tech-focused Nasdaq index fell 59.43 points to 4,648.83.

Figures released by the Chinese government showed exports sinking 25.4% and imports dropping 13.8%.

Shares of Caterpillar, the maker of heavy machinery, fell 4%.

US oil fell 4.3% to $36.28 a barrel, while Brent crude dropped 3.4% to $39.45 a barrel.

Shares of Exxon Mobil and Chevron both fell 2.1%.

Shake Shack shares plunged more than 11.8% after the burger chain reported an 11% rise in fourth quarter sales - the slowest growth rate of the last three quarters.

Urban Outfitters shares shot up 16.1% after it reported stronger than excepted sales of its Free People clothing line.