Wall Street fell Tuesday after a surprisingly weak retail sales report upended the market’s optimism about the economy. The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs. Financial stocks were especially weak after Goldman said it would raise $5 billion to repay government bailout money.
The Dow Jones industrial average fell 137.63, or 1.7 percent, to 7,920.18.
The Standard & Poor’s 500 index fell 17.23, or 2 percent, to 841.50.
The Nasdaq composite index fell 27.59, or 1.7 percent, to 1,625.72.
For the week:
The Dow is down 163.20, or 2 percent.
The S&P is down 26.82, or 1.6 percent.
The Nasdaq is down 15.06, or 1.8 percent.
For the year:
The Dow is down 856.21, or 9.8 percent.
The S&P is down 61.75, or 6.8 percent.
The Nasdaq is up 48.69, or 3.1 percent.
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