Retail shares in the U.S. dropped nearly 2 percent as disappointment over holiday sales merged with ongoing anxiety about the approach of the fiscal cliff.
The S&P 500 Retailing Industry Group was down 11.2 points, or 1.7 percent, to 642.87 while, in the broader market, the Dow Jones Industrial Average fell 24.49 points, or 0.2 percent, to 13,114.59. The S&P 500 slid 6.83 points, or 0.5 percent, to 1,419.83.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"