By and and  on October 15, 2008

Retail’s respite from stock market declines lasted only a day, as investors pushed stores’ shares down 4 percent Tuesday on persistent fears shoppers will freeze their spending well into next year.

The Standard & Poor’s Retail Index fell 11.90 points to 287.10, giving back nearly half of Monday’s record-breaking 9 percent gain. Retail shares have fallen 27.5 percent since the end of August, just before the banking crisis and credit crunch shifted into high gear.

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