By  on October 6, 2008

Retail stocks joined world markets on a gut-wrenching roller-coaster ride Monday, and there’s no telling how or when the stomach pains will end.

Shares fell by as much as 8.1 percent before a late rally helped the industry recoup some of its lost ground in the final hour of trading. Driven at least in part by the ever-worsening outlook for the holiday season, the Standard & Poor’s Retail Index ended the day down 2.5 percent, or 8.25 points, to 323.58.

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