Wall Street sinks 1% on Europe, Wal-Mart

US stocks have closed sharply lower on the release of key data and earnings from Wal-Mart.

US stocks have closed sharply lower as investors digested a series of key data releases and an earnings report from retail bellwether Wal-Mart.

At the closing bell, the Dow Jones Industrial Average sunk 167.16 points lower, or 1.01%, to 16,446.81.

The broad-based S&P 500 weakened 17.68 points, or 0.94%, to 1,870.85, while the tech-heavy Nasdaq Composite Index lost 31.33 points, or 0.76%, to 4,069.29.

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