By and  on December 3, 2008

Retail shares bounced back on Tuesday, but managed to erase less than half of Monday’s record-setting decline.

The Standard & Poor’s Retail Index ended the day at 247.45, up 9.11 points, or 3.8 percent, following Monday’s 9.3 percent nosedive, the largest percentage decline since it was reset in June 2000. The retail index finished on a stronger note than the Dow Jones Industrial Average (up 3.3 percent to 8,419.09) but behind the S&P 500 (up 4 percent to 848.81).

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