Wall Street Slips On China Worries

Wall Street sagged into the red on Friday but clung to slender gains for the week as investors were buffeted by an array of global uncertainties and risks.

The subdued movements for stocks came as investors await next week's policy meeting by the Federal Reserve, which investors will scrutinise for signs the central bank is ready and willing to lower interest rates.

The major indices were also largely unmoved by rosy economic news from the United States – where data showed retail sales and industrial output were strong in May – focusing instead on gloomy numbers from China and a dimming outlook for semiconductors.

The benchmark Dow Jones Industrial Average closed down less than a tenth of a per cent, settling at 26,090.

The broader S&P 500 fell 0.2 per cent to 2,887 while the tech-heavy Nasdaq sank 0.5 per cent to close at 7,797.

Chinese industrial production in May hit its slowest pace in 17 years, raising fears of a pronounced slowdown in the world's second largest economy, according to official data released on Friday. (AFP)