Retail stocks tumbled 1.4 percent Wednesday — the sector’s biggest fall since November — as investors’ faith in the nascent economic recovery was shaken by speculation that tighter lending standards in China could slow a rebound.
The S&P Retail Index dropped 5.58 points to 406.24 as the Dow Jones Industrial Average sank 1.1 percent, or 122.28 points, to 10,603.15. Investors in the U.S. and Europe followed the lead of their Asian counterparts, who were rattled by fears that Chinese officials would begin applying the economic brakes.
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)