The Federal Reserve released its industrial production report on Wednesday. The U.S. industrial production slid 0.5% in February, missing expectations for a 0.3% decrease, after a 0.8% rise in January. January's figure was revised down from a 0.9% increase.

The decline was mainly driven by a drop in utilities. Mining output fell 1.4% in February, while utilities production plunged 4.0%.

Manufacturing output rose 0.2% in February, after a 0.5% gain in January.

Capacity utilisation rate decreased to 76.7% in February from 77.1% in January, missing expectations for a decline to 76.9%.