By  on January 14, 2008

Shares of retailers took a beating on Friday, after consumer confidence fell to an all-time low as reported by research firm RBC, and American Express Co. warned delinquent credit card payments could hurt profits.

The Dow Jones Industrial Average slid more than 300 points before rebounding to close down 1.9 percent to 12,606.30. The broader S&P 500 fell 1.4 percent to 1,401.02, while the S&P Retail Index was mangled, dropping 3.2 percent to close at 366.39.

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