Stocks, though, bounced back slightly on upbeat economic news, including an improved job market and stronger consumer sectors. Additionally, global stocks strengthened on expectations that the European Central Bank would launch a quantitative easing program to stimulate the Eurozone economy.

However, optimism was pared down by uncertainty over low inflationary pressures and the Federal Reserves eventual rate hike. Additionally, attention was brought back on to the falling oil prices and potential negative effect on the energy sectory.

Markets bounced on news that the ECB would add a 1 trillion-euro bond-purchasing program to stimulate the region and fight against deflationary pressures. However, poor economic news outweighed the Eurozone’s liquidity boost, keeping market muted.

Overall, the soft economic data, along with tepid fourth-quarter earnings results, kept U.S. equities markets largely depressed over January.

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Max Chen contributed to this article.