By and  on October 8, 2013

Retail stocks logged their sharpest drop since June on Wall Street today as President Obama warned that a “very deep recession” could be in the offing if lawmakers allowed the country to default on its debts.


The S&P 500 Retailing Industry Group fell 2 percent, or 16.57 points, to 826.48, leading the Dow Jones Industrial Average, which declined 1.1 percent, or 159.71 points, to 14,776.53. The Dow is now off more than 900 points since Sept. 18.

To unlock this article, subscribe to WWD below.

load comments
blog comments powered by Disqus