Retail stocks slipped on Wall Street today, snapping a five-session winning streak that pushed the sector to new highs.
The S&P 500 Retailing Industry Group fell 0.2 percent, or 1.78 points, to 866.97, coming down off Tuesday’s record close of 868.75. The Dow Jones Industrial Average fell 0.4 percent, or 54.33 points, to 15,413.33.
Among the decliners were The Men’s Wearhouse Inc., down 3.7 percent to $44.82; Coach Inc., 3.1 percent to $48.55; Jos. A. Bank Clothiers Inc., 2.5 percent to $48.84; Burlington Stores Inc., 1.9 percent to $25.75, and Amazon.com Inc., 1.7 percent to $326.76.
Stocks have gained ground since the government reopened last week and lawmakers approved an increase to the debt ceiling — skirting what could have been a disastrous default on U.S. Treasury debt. Investors have also been reading the economic tea leaves and betting the Federal Reserve will wait to get a better sense of growth before allowing interest rates to rise.
Markets were also down in Europe.
Milan’s FTSE MIB fell 2.4 percent to 18,910.68, while Paris’ CAC 40 sank 0.8 percent to 4,260.66, London’s FTSE 100 slipped 0.3 percent to 6,674.48 and Frankfurt’s DAX declined 0.3 percent to 8,919.86.
The decliners included ASOS, off 4.9 percent to 51.48 pounds, or $83.22 at current exchange, Salvatore Ferragamo Italia SpA, 1.7 percent to 24.88 euros, or $34.30; Luxottica Group SpA, 1.2 percent to 37.55 euros, or $51.76; Brunello Cucinelli SpA, 0.9 percent to 23.30 euros, or $32.12, and Hermès International, 0.7 percent to 255.65 euros, or $352.41.