Wall St closes lower on Asian data

United States stocks closed lower as sluggish economic data from Asia and lingering concerns about the conflict in Ukraine put investors on the defensive. 

At the closing bell, the Dow Jones Industrial Average was down 34.04 points, or 0.21%, to 16,418.68.

The S&P 500 lost 0.87 of a point, or 0.05%, to 1,877.17, while the tech-heavy Nasdaq Composite Index declined 1.77 points, or 0.04%, to 4,334.45.

Earlier, Asian and European markets lost ground after China reported weak inflation data and a $US23.0 billion ($A25.52 billion) trade deficit in February, while analysts had forecast an $US11.9 billion surplus.

"Markets are retreating on the weak Chinese exports data, which is consistent with our view that the China economy is slowing," Jack Ablin, chief investment officer at BMO Private Bank, said.

Meanwhile, Japan said its economy grew more slowly in the fourth quarter, 0.2%, than the previously reported 0.3%.

Michael James, managing director of equity trading at Wedbush Securities, said profit-taking was also a factor following gains since early February.

"Stocks have had a pretty good move," Mr James said.

"Traders were kind of positioned to take profits."