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The S&P 500 and Dow Jones Industrial Average closed lower on Thursday following the release of much weaker-than-expected retail sales data.
The 30-stock index dropped 103.88 points to 25,439.39, as shares of Coca-Cola had their worst day since 2008.
The S&P 500 subtracted 7.3 points to 2,745.73, as the consumer staples and financials sectors lagged.
The NASDAQ Composite gained 6.58 points to 7,426.96, as Netflix's stock climbed more than 2%.
Stocks are on track to post solid gains this week. The three major indexes are all up at least 1% through Thursday's close.
Retail sales fell 1.2% in December, marking their biggest monthly drop since September 2009, according to The Commerce Department. The department also said retail sales fell 0.9% in December when excluding gasoline station sales.
The data were enough to dampen market sentiment as investors continue to follow news of the U.S.-China trade talks. President Donald Trump said Wednesday that talks were "going very well" as both sides look to reach an agreement before an early March deadline.
Furthermore, the South China Morning Post reported that Chinese President Xi Jinping will meet with U.S. delegates on Friday, including Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer.
Prices for the benchmark 10-year U.S. Treasury jumped, lowering yields to 2.65% from Wednesday’s 2.71%. Treasury prices and yields move in opposite directions.
Oil prices recovered 59 cents to $54.49 U.S. a barrel.
Gold prices gained 30 cents to $1,315.40 U.S. an ounce.
