While you were sleeping: US retailers drop

Tue, 02 Aug 2016

By Margreet Dietz Aug. 3 (BusinessDesk) - Wall Street slid with shares of retailers and car makers amid concern that a better-than-expected pace of consumer spending is not sustainable. In 3.02pm trading in New York, the Dow Jones Industrial Average dropped 0.5 percent, while the Nasdaq Composite Index fell 0.8 percent. In 2.47pm trading, the Standard & Poor’s 500 Index slid 0.7 percent. The Dow fell, led by declines in shares of Pfizer and those of Goldman Sachs, down 2 percent and 1.4 percent respectively. Bucking the trend were sh...

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