Stocks slip as shopping season has a weak start
- Associated Press
- December 3, 2013 - 3:15 PM
NEW YORK — Stocks are closing lower on Wall Street as investors worry about weak consumer spending as the holiday shopping season gets underway.
The Dow Jones industrial average lost 94 points, or 0.6 percent, to close at 15,914 Tuesday.
The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,795. The Nasdaq composite fell eight points, or 0.2 percent, to 4,037.
Companies that depend heavily on consumer spending had some of the biggest losses. GameStop, the video game retailer, sank $1.02, or 2 percent, to $45.95.
Automakers fell despite reporting higher sales for November. Ford fell 50 cents, or 3 percent, to $16.56.
Three stocks fell for every two that rose on the New York Stock Exchange.
The yield on the 10-year Treasury note fell to 2.78 percent.
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