Major indices finished the day significantly down on a strong U.S. dollar, a weak Euro and Wall Street fretting over an increase in interest rates from the Federal Reserve.
The Dow Jones Industrial Average fell 1.9 percent to 17,662.94 while the S&P 500 fell 1.7 percent to 2,044.16. Earlier in the day, the FTSE 100 dropped 2.5 percent to 6,702.84. The WWD Stock Tracker finished the day with a decline of 1.1 percent to 112.64.
Immune to the retreat were shares of Urban Outfitters Inc., which had reported strong earnings and reached the $1 billion quarterly sales milestone. It’s shares gained 11.5 percent — closing the day at $44.06.
Most stocks in the WWD tracker posted declines. Avon Products and Coty Inc. shed 6.2 percent to $8.44 and 4.2 percent to $22.18, respectively. The Men’s Wearhouse Inc. dropped 3.5 percent to $47.88. Men’s Wearhouse reports earning tomorrow, and analysts expect softer numbers.
Later this week, Wall Street will be eyeing February retail sales as well as import and export prices, and business inventories.