NEW YORK — Apparel stocks were caught in the undertow of wider market declines Wednesday following an unexpected decision by OPEC to cut production, raising the possibility of higher energy costs.
The Dow Jones Industrial Average suffered a triple-digit tumble, falling 150.53 points, or 1.6 percent, to land at 9,425.51, while the Nasdaq shed 3.1 percent of its value, or 58.02 points, to close at 1,843.70. The Standard & Poor’s Retail Index settled at 353.36, down 6.62 points, or 1.8 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)