By  on December 2, 2008

Investors focused on the impact of Black Friday markdowns on fourth-quarter profits and pushed retail shares down a record-breaking 9.3 percent on Monday.

The Standard & Poor’s Retail Index fell 24.41 points to 238.34 and registered its largest percentage drop since the index was recalibrated in June 2002. The measure of retail shares has logged its 13 steepest declines since the credit crisis began in September.

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