Retail stocks fell on Wall Street today as investors picked through the minutes of last month’s Federal Reserve meeting and found some participants contemplating a tighter monetary policy — which could slow economic growth.
The S&P 500 Retailing Industry Group fell 1.3 percent, or 9.47 points, to 699.43, as the Dow Jones Industrial Average declined 0.8 percent, or 108.13, to 13,927.54. Contributing to the retail index’s decline were Abercrombie & Fitch Co., down 2.4 percent to $50.84; Nordstrom Inc., 2.3 percent to $55.15; Macy's Inc., 2.3 percent to $39.51, and Tiffany & Co., 1.9 percent to $64.40.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"