Wall Street equities closed lower after data indicated that trade deficit narrowed to $83.35 billion in November from $98.8 billion in October.
The data suggested strength in the economy, adding to concerns that the U.S. Federal Reserve will continue on its rate-hike path. A separate report that showed a fall in home prices, indicating struggles for the housing market, also weighed on concerns. U.S. bond yields rose as investors tried to assess the Fed's rate-hike path following the mixed data and China's decision to scale back some of its COVID-related restrictions.
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