By  on June 20, 2013

Wall Street tanked Thursday as investors worried over higher interest rates, but retail observers said the economic picture is actually brightening for consumer-based companies.

The S&P 500 Retailing Industry Group fell 2.2 percent, or 17 points, to 772.75, as the Dow Jones Industrial Average dropped 2.3 percent, or 353.87 points, to 14,758.32.

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