Fashion stocks lost a little bit of ground today, but were in step with a general decline seen in global markets.
The 100-issue WWD Global Stock Tracker fell 0.3 percent to 108.29.
Leading the decliners down was an international group of retailers that included Myer Holdings Ltd., off 3.7 percent to 1.42 Australian dollars, or $1.15; Lotte Shopping Co., 2.7 percent to 272,000 South Korean won, or $247.21; and Shanghai Metersbonwe, 2.6 percent to 10.33 yuan, or $1.66.
Shares of American Apparel Inc. fell 0.9 percent to $1.07 as investors try to gauge the impact of repeated calls to consider a sale of the company.
Overall, the market was bearish as the year approached its close. While the economy has perked up in the U.S., the market is also at historic highs and investors are keeping a wary eye on weakness elsewhere in the world.
The Dow Jones Industrial Average slipped back below 18,000, falling 0.3 percent to 17,983.07, as the S&P 500 declined 0.5 percent to 2,080.35.
Wall Street seemed keying into negative sentiment coming out of Europe, where concerns have risen that the upcoming election will push Greece away from austerity measures.
Paris’ CAC 40 fell 1.7 percent to 4,245.54 while London’s FTSE 100 dropped 1.3 percent to 6,547 and Frankfurt’s DAX declined 1.2 percent to 9,805.55.
Tokyo’s Nikkei 225 fell 1.6 percent to 17,450.77 as Hong Kong’s Hang Seng Index slipped 1.1 percent to 23,501.10.