By  on November 20, 2008

Retail shares plummeted 7.1 percent Wednesday as the equity markets were besieged by fears about price deflation, the health of Citigroup and the waning prospects for an auto-sector bailout from Washington.

The Standard & Poor’s Retail Index lost 17 points to end at 222.46 — its lowest close on record and down one-third from June 2002, when the index was recalibrated.

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