Stocks saw a further decline on Wednesday after a modest pullback the previous day. The Nasdaq fell 1.0%, the S&P 500 dropped 0.5%, and the Dow slipped 0.1%. Geopolitical tensions and Wells Fargo’s 4.6% plunge contributed to the market weakness. Bank of America and Citigroup also saw declines despite reporting strong fourth-quarter results. Retail sales in the U.S. rose by 0.6% in November, exceeding expectations. U.S. producer prices saw a modest increase in November. Software and networking stocks fell, while energy stocks gained. In overseas trading, Asian markets rose, while European markets had a mixed performance. Treasuries saw further upside, with the ten-year note yield falling to 4.140%.

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