U.S. wholesale inventories unexpectedly drop in February

Wholesale inventories in the world's largest economy surprisingly declined in February, a report released by the Commerce Department showed on Tuesday, at the same time wholesale sales recorded a notable rebound. Wholesale inventories slipped 0.3% in February reversing an increase of 0.8% in the month before, while wholesale sales moved up 1.7% in February after it rose 0.8% in January.