Weak retail sales send stocks lower; Dow off 200

NEW YORK (AP) — Wall Street fell sharply Wednesday after the government reported weaker-than-expected retail sales in April. The Dow Jones industrial average fell more than 2 percent. The market has put a two-month rally on hold amid concern that an economic recovery won’t come as fast as hoped. The latest poor indicator came as the Commerce Department said retail sales fell 0.4 percent last month, while economists had expected sales to be flat. Investors watch these numbers closely because consumer spending accounts for about two-thirds of U.S. economic activity. Without improved spending, the economy is more likely to remain mired in a recession. In early afternoon trading, the…

Full Article