US stocks fall despite Biden's stimulus plan

The main US stock indices fell in early trading on Friday, after the release of disappointing economic data and President-elect Joe Biden's stimulus plan unveil.

Data showed today that the US retail sales index fell 0.7% in December, while the producer price index rose 0.3%, lower than forecasts of 0.4%.

President-elect Joe Biden revealed yesterday a $1.9 trillion stimulus package to boost the economy from the Covid crisis..

Major US companies started to report their quarterly business results for the fourth quarter of 2020.

As for stocks, Dow Jones fell 1% or 310 points to 30,683 as of 15:18 GMT, S&P 500 fell 1% or 37 points to 3,758, and Nasdaq fell 0.9% or 125 points to 12,984.