Poor retail sales drives Dow lower

Nervous investors bid US stocks modestly lower today as disappointing retail sales reports prompted fresh concerns about a slowdown in the economy and a dropoff in corporate revenues. A surge in oil prices also spurred selling.

While many big-name retailers reported solid, if uninspiring, sales for February, the majority of monthly retail sales were below Wall Street’s expectations – a disturbing sign for investors who hope consumer spending will remain robust in the face of expected interest rate increases from the Federal Reserve.