Benchmarks closed in the red for the fourth straight session after ECB reduced its growth forecast for the eurozone economy.

Benchmarks closed in the red for the fourth straight session after ECB reduced its growth forecast for the eurozone economy. The central bank also announced plans to revive the slowing economy. Meanwhile, President Trump stated that talks with China were advancing. Concerns of an impending global economic slowdown hurt market sentiments. The Dow Jones Industrial Average (DJI) decreased 0.8%, to close at 25,473.23. The S&P 500 decreased 0.8% to close at 2,771.45. The tech-laden Nasdaq Composite Index closed at 7,421.46, losing 1.1%. The fear-gauge CBOE Volatility Index (VIX) increased 10.3% to close at 17.38. Decliners outnumbered advancers on the NYSE by a 1.96-to-1 ratio. On Nasdaq, a 1.51-to-1 ratio favored declining issues.