Wall Street declined Tuesday with the Dow Jones average dropping about 150 points as the U.S. consumer confidence retreated in August.

U.S. consumer confidence declined in August due to a softening in business conditions and labor market conditions, said the Conference Board, an economic group on Tuesday.

The Conference Board Consumer Confidence Index now stands at 105, down from 111.9 in July. The Present Situation Index decreased to 130.3 from 138.3 in July. The Expectations Index declined to 88.2 from 94.4.

"A softening in business conditions and labor market conditions has curbed consumers' confidence this month. In addition, volatility in financial markets and continued sub-prime housing may have played a role in dampening consumers' spirits," said Lynn Franco, director of the Conference Board consumer research center.

The Dow Jones industrial average fell 150.21 to 13,169.92. The Standard & Poor's 500 index was down 18.88 at 1,447.91, and the Nasdaq composite index shed 34.43 to 2,526.83.

Home-improvement retail giant Home Depot said Tuesday it had secured a deal to sell wholesale wing to private equity firms for 8.5 billion dollars, lower than its expectation of 10.3 billion dollars.