NEW YORK--Weakness in technology stocks drove the Dow Jones Industrial Average down 57.4 points--or 1.2 percent--Wednesday, but retail and apparel issues were relatively unscathed.
The DJIA had been down as much as 132.78 during the day.
Most of the declines among fashion stocks were fractional and came from stocks that have shown price appreciation recently. Losers included Tommy Hilfiger Corp., off 3/4 to 28 1/8; St. John Knits, 3/4 to 46 1/2; Liz Claiborne, 3/4 to 23; Jones Apparel Group, 1/4 to 31 7/8, and The Warnaco Group, 5/8 to 20 5/8.
Among decliners in retail issues, Nordstrom slid 1 3/8 to 42 1/2; Federated Department Stores, 5/8 to 27 1/4; Caldor Corp., 3/4 to 15 5/8, and Ann Taylor Stores Corp., 5/8 to 19 3/8.
Venture Stores tumbled 2 3/4 to 7 1/2 after the company said late Tuesday that it was taking a $40 million charge to drastically alter its store format and cut about 5 percent of its workforce. --Fairchild News Service

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