Mumbai, Aug. 6 -- The Nasdaq slid 137.03 points (0.7 %) to 20,916.55, the S&P 500 fell 30.75 points (0.5%) to 6,299.19 and the Dow edged down 61.90 points (0.1%) to 44,111.74.

Wall Street faced a downturn amid renewed trade concerns following President Trump's remarks about imposing new tariffs on semiconductors, chips, and pharmaceuticals. He indicated tariffs on drug imports could reach up to 250%. Additionally, weak U.S. service sector data for July further weighed on investor sentiment.

The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5. Stocks initially rose on the back of strong earnings reports, notably from...