Dow shaken by retail news
By mid-afternoon trade, the Dow Jones Industrial Average had declined 70 points, or 0.8%, to 8,557.
The S&P 500 eased 0.6%% to 905. The Nasdaq Composite slipped four points, or 0.4%, to 1,395.
The market’s tone was less than upbeat despite good economic news. Industrial output rose last month for the first time in several months, housing sales jumped 2% in November and inflation remains well contained. “The news is mixed,” said Donald Selkin, director of equity research at Joseph Stevens. “The economic news was OK, but the retailers disappointed such as Best Buy and McDonald’s had not so great news.”
Decliners topped advancers by 17 to 12 on the Big Board and by 18 to 11 on the Nasdaq.
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