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NEW YORK Authentic Xavien Howard Jersey , Jan. 14 (Xinhua) -- U.S. stocks continued to drop Wednesday amid mixed earnings of American banks, soft data and concerns about global economy.


The Dow Jones Industrial Average slipped 186.59 points, or 1.06 percent, to 17,427.09. The S&P 500 fell 11.76 points, or 0.58 percent, to 2,011.27. The Nasdaq Composite Index dipped 22.18 points Authentic Laremy Tunsil Jersey , or 0.48 percent, to 4,639.32.


JPMorgan Chase & Co., the largest U.S. bank by assets, posted Wednesday net income of 4.9 billion U.S. dollars for the fourth quarter, or 1.19 dollars per diluted share, down from 5.3 billion dollars, or 1.30 dollars per share Authentic Raekwon McMillan Jersey , in the fourth quarter of 2013. The company's results were hurt by expensive legal costs. In response, its shares slumped 3.45 percent to 56.81 dollars apiece.


Shares of Wells Fargo, the biggest U.S. mortgage lender, fell 1. 16 percent to 51.25 dollars apiece after the company delivered quarterly earnings in line with market expectations.


The somber start of U.S. banks'earnings sent financial stocks lower. The financials sector decreased 1.42 percent Wednesday, the biggest laggard among the S&P 500's 10 sectors.


On the economic front, U.S. retail and food services sales lost 0.9 percent in December on a seasonally adjusted basis, the biggest decline since January 2014, said the U.S. Commerce Department. The drop was much bigger than analysts' expectations.


Separately Authentic Kenny Stills Jersey , the Commerce Department said U.S. business inventories were up 0.2 percent in November from October, lower than market consensus of 0.3 percent.


"A weak finish for fourth quarter retail sales suggests consumers may not be quite as happy about lower gas prices as thought," said Chris Low, chief economist at FTN Financial, in a note.


Additionally, the price index for U.S. imports fell 2.5 percent in December, the biggest decline in six years, the U.S. Labor Department said. Meanwhile Authentic Ryan Tannehill Jersey , export prices dropped 1.2 percent last month.


Dampening investor sentiment, the World Bank lowered its global economy growth forecasts for 2014 and 2015 Tuesday. In its latest flagship report Global Economic Prospects, the World Bank projected the global economy to grow 2.6 percent in 2014 and 3 percent in 2015, down 0.2 percentage point and 0.4 percentage point respectively from its June forecasts.


Overseas markets saw a broad-based decline Wednesday following the World Bank report.


However, the Federal Reserve's Beige Book released Wednesday afternoon soothed anxious investors to some extent and helped the three major indices recoup part of their losses to come off session lows.


The report showed that the world's largest economy continued to expand during the reporting period of mid-November through late December, with most Districts reporting a "modest" or "moderate" pace of growth.


A strong rebound in oil prices also provided some upward jolts to the stock market.


Despite rising U.S. crude inventories last week, light, sweet crude for February delivery surged 5.6 percent to settle at 48.48 dollars a barrel on the New York Mercantile Exchange as traders bought the dip.


The CBOE Volatility Index Authentic Cameron Wake Jersey , often referred to as Wall Street's fear gauge, rose 4.47 percent to end at 21.48.


In other markets, the dollar decreased against most major currencies on negative economic data from the country.


In late New York trading, the euro moved up to 1.1778 dollars from 1.1764 dollars in the previous session. The greenback bought 117.30 Japanese yen, lower than 117.73 yen of the previous session.


Gold futures on the COMEX division of the New York Mercantile Exchange rose for a fourth session in a row on Wednesday as a poor retail sales report drove down U.S. stocks and the U.S. dollar.


The most active gold contract for February delivery rose 0.1 dollars, or 0.01 percent, to settle at 1,234.50 dollars per ounce.


BEIJING Authentic Reshad Jones Jersey , Jan. 12 (Xinhua) -- China's anti-corruption campaign has won the support and backing of celebrities who are joining the fight to terminate the extravagant behavior of officials.


Nobel laureate Mo Yan, in an interview for the website of the Communist Party of China (CPC) Central Commission for Discipline Inspection (CCDI), said he was going to write about corruption.


He said: "Power, money and other temptations are tests to everyone."


A book on this subject, Mo said, could have a "penetrating and profound" effect, as it would inspect people under a moralistic and legal microscope, adding that he would not avoid covering China's problems.


Mo said he had yet to put pen to paper but that he hoped to produce a deep and satisfactory piece.


Having worked in the military and at the Supreme People's Procuratorate's Procuratorial Daily Authentic Minkah Fitzpatrick Jersey , the 59-year-old writer has criticized corruption and bureaucracy in his novels "Garlic Ballads" and "Republic of Wine".


He was awarded the Nobel Prize for Literature in 2012 for work that "merges hallucinatory realism with folk tales, history and the contemporary," according to the Swedish academy.


The CCDI has interviewed several well-known writers over the last few months, including Eryue He, a Chinese historical fiction writer, Chen Zhongshi and Feng Jicai, and published them on its website.


Meanwhile, the disciplinary watchdog's fifth plenary session opened on Monday Kalen Ballage Jersey , which will further outline the Party's efforts to root out corruption.


Since the transition of leadership in late 2012, great efforts have been taken to address rampant corruption, which the CPC believes may threaten the very survival of the Party and state.


In an interview with a major newspaper run by the CCDI, veteran actor Pu Cunxin, who is also a national political advisor, compared the country's counter-corruption efforts to the fight against HIVAIDS, saying "it is far from over".


As an ambassador and avid campaigner for the prevention and treat

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