Retail stocks suffered their biggest sell-off of the year, shedding 3 percent of their value, as weak same-store sales results exacerbated investor concerns about the condition of consumer spending.
The S&P 500 Retailing Industry Group dropped 26.40 points, or 3 percent, to end the difficult session at 860.66. The Nasdaq dropped 3.1 percent to 4,054.11 and the Dow Jones Industrial Average and S&P 500 indices did only marginally better, dropped 1.6 percent to 16,170.22 and 2.1 percent to to 1,833.08.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)