U.S. retail stocks suffered their worst losses in seven weeks as increasing anxiety about earnings and guidance combined with fears about Russia’s intentions in Ukraine.
The S&P 500 Retailing Industry Group was off 1.7 percent, to 902.49, for its worst decline since the 2.5 percent drop of Feb. 3. While Nasdaq shed 1.2 percent, to 4,226.39, on concerns about biotech stocks, the larger market weathered less damage. The Dow Jones Industrial Average drifted 0.2 percent lower, to 16,276.69, while the S&P 500 was off 0.5 percent to 1,857.44.
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?"