By and  on October 9, 2008

Retail shares fell a record 7.9 percent Thursday as investors continued to trade on economic and credit fears and the industry pondered how to adapt to the financial meltdown.

The Standard & Poor’s Retail Index plunged 23.89 points to 276.88. The top five declines since the index was recalibrated in mid-2002 have all occurred over the last three weeks as the credit crunch spread overseas and unprecedented steps to add liquidity to the market failed to sooth investor psychology.

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