Mumbai, May 6 -- The Nasdaq slid 133.49 points (0.7%) to 17,844.24, the S&P 500 fell 36.29 points (0.6%) at 5,650.38 and the Dow dipped 98.60 points (0.2%) to 41,218.83.

Renewed trade concerns also weighed on stocks after President Donald Trump announced plans to impose a 100% tariff on movies produced in foreign countries. Trump also told reporters on Sunday that he has no plans to talk to his Chinese counterpart Xi Jinping this week, offsetting recent optimism about a potential U.S.-China trade deal.

Institute for Supply Management released a report showing an unexpected increase by its reading on U.S. service sector activity in the month of April following which the selling pressure waned. It also said it's services PMI rose to 51.6 ...