Stocks sink after retail sales slip, China slows
NEW YORK (AP) — U.S. stock indexes are closing slightly lower following more signs of weakness in China and disappointing retail sales over the Thanksgiving holiday.
Industrial and retail stocks had some of the biggest losses Monday. General Electric and Nike fell the most in the Dow Jones industrial average. Macy’s and Target also fell.
The Dow lost 51 points, or 0.3 percent, to 17,776.
The Standard & Poor’s 500 index lost 14 points, or 0.7 percent, to 2,053. The Nasdaq composite fell 64 points, or 1.3 percent, to 4,727.
The price of crude oil rose $2.85 to $69 a barrel in New York, recovering some of the ground it lost Friday.
Prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to 2.22 percent.