Retailers pull US markets lower

(Close): US markets closed lower, weighed down by retailers after a profit warning from Macy's.

Shares in the owner of Bloomingdale's tumbled 14% after the company cut its full-year profit forecast.

The Dow Jones Industrial Average fell by 56.53 points, or 0.32%, to 17,701.69.

The broader S&P 500 dropped by 6.77 points, or 0.33%, to 2074.95, while the tech-heavy Nasdaq index was down by 16.22 points, or 0.32%, at 5067.02.

Oil and gas related shares also fell as the price of US crude oil sank 3%.

US bond markets were closed on Wednesday for Veteran's Day.