By  on June 23, 2008

Retail shares nosedived on Friday as investors continued to react to gloomy economic news and heightened international tensions, placing an exclamation point on a week marked by continuing erosion in the equity markets.

The Standard & Poor's Retail Index sank 3.3 percent to 380.04, closing out the week with a 4.3 percent decline. The Dow Jones Industrial Average tumbled more than 220 points for the day to close down 1.8 percent at 11,841.95, bringing the decline for the week to 3 percent.

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