Despite soothing words from Federal Reserve chairman Ben Bernanke on Thursday, who said he supported an economic stimulus package, investors remained wary of the economy after a Fed report showed a sharp decline in manufacturing activity.
As a result, the Dow Jones Industrial Average lost more than 300 points in afternoon trading, closing down 2.5 percent to 12,159.21 while the S&P 500 fell 2.9 percent to 1,333.27. Apparel shares were mixed with the S&P Retail Index shedding 0.7 percent to 371.45.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)