Mumbai, Jan. 14 -- The Dow slid 398.21 points (0.8%) to 49,191.99, the Nasdaq edged down 24.03 points (0.1%) to 23,709.87 and the S&P 500 dipped 13.53 points (0.2%) to 6,963.74.

The Dow retreated from Monday's record closing high, weighed down by a 4.2% drop in JPMorgan Chase shares after the bank reported a year-over-year decline in fourth-quarter profits, despite adjusted earnings topping estimates. Broader market trading remained choppy amid growing uncertainty over rising geopolitical tensions and a series of economic proposals from President Donald Trump, including a one-year cap on credit card rates and restrictions on defense company payouts and institutional home purchases.

In economic news, U.S. consumer prices rose in line wit...