Friday, 23 December 2016

Retailers weigh on Wall Street, Dow 20,000 slips away

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US stocks fell on Thursday, weighed down by weakness in retailers, as investors stepped back from a recent rally fuelled by optimism that President-elect Donald Trump will invigorate economic growth. The decline pulled the Dow Jones industrial average further away from the 20,000 mark after it nearly breached that level this week for the first time. Retail stocks fell after CNN reported Trump's transition team is considering a tariff of as much as 10 percent on imports. 

The S&P 500 consumer discretionary index lost 1.01 percent, its biggest one-day decline since October. Home Depot fell 1.02 percent and Wal-Mart Stores lost 2.32 percent, both weighing more than any other stocks on the Dow.

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