US stocks close lower on inflation fears despite strong retail sales
Companies
US stocks close lower on inflation fears despite strong retail sales
Data showed US retail sales rose 0.6% in June in contrast to the 0.4% decline predicted by analysts
4:05pm: US equities close lower
US stocks closed lower as strong retail sales numbers and better-than-expected earnings reports succumbed to inflation fears.
On the day, the Dow dropped 0.86% to 34,686. The S&P 500 fell 0.75% to 4,327 and the tech-heavy Nasdaq declined by 0.80% to 14,427.
12pm: US stocks seeing red
US stocks were seeing red at lunch on Friday as the mood turned sour on confidence in the economy.
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