The US market started Wednesday's trading on a negative note, its longest losing streak since October 2008, as investors remained concerned about the country's economy following Institute of Supply Management's reports suggesting the economy grew at the weakest pace in 17 months. The Dow Jones industrial average fell 0.68 percent or 80.27 points to trade at 11,786.35. The Nasdaq Stock Market Inc. composite index slipped 0.37 percent or 9.43 points to trade at 2,659.21. The Standard & Poor's 500 index lost 0.53 percent or 6.66 percent to trade at 1,247.39.

Research In Motion Ltd. (Nasdaq: RIMM : 25.19, 1.04) shares lost 0.54 percent or 11 cents to trade at $24.03 amidst reports that it plans to release a bevy of new BlackBerry devices to regain its lost ground in North America.

Amazon.com Inc. (Nasdaq: AMZN : 210.69, -0.81) implements extreme measures to keep its policy of not charging sales tax in most of the US states, which it had followed since its founding in 1994. Shares were down 2.34 percent or $4.89 to trade at $206.77.

Bank of America Corp. (NYSE:BAC : 9.485, -0.005) held settlement negotiations with some states over home foreclosures separately from talks with a larger group of states and federal officials. Shares slipped 1.63 percent or 15 cents to trade at $9.34.

Google Inc. (Nasdaq: GOOG : 599.57, 6.07) hired Federal Trade Commission's top intellectual property official Suzanne Michel to fight on its behalf as it faces investigation by the commission for its dominance of internet searches. Shares slipped 0.14 percent or 71 cents to trade at $593.14.

Kohlberg Capital Corp. (Nasdaq: KCAP : 6.89, -0.35) shares fell 5.70 percent or 41 cents to trade at $6.78 despite winning a lawsuit filed by investor Dennis J. Angeleri accusing it of lying about the value of its portfolio.

British American Tobacco Plc (AMEX: BTI : 92.79, 0.08) urged an Australian appeal court panel to order the release of government documents to help it fight a proposed law to remove all manufactures' markings from cigarette packs. Shares fell 0.53 percent or 49 cents to trade at $92.37. Read More