Wall Road Opens Decrease After Retail Gross sales Miss; Dow Down 270 Pts By Investing.com
By Geoffrey Smith
Investing.com – US equity markets opened significantly lower Tuesday after a weak report on retail sales in July cast new doubts about the dynamism of an economy increasingly under pressure from the latest wave of the pandemic.
Retail sales were down 1.1% in July while core retail sales were down 0.4%, both numbers below expectations. The bad mood was only partially offset by the fact that industrial production rose slightly more than expected for the month.
By 9:40 a.m. ET (1340 GMT), the price fell 271 points, or 0.8%, to 35,354 points, down from the all-time high posted on Monday. That followed, down 0.7%, while the company underperformed, down 0.8%, while some large Chinese internet stocks fell again after Beijing regulators unveiled tough new draft rules to curb their market power.
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