Wall Street ends lower after recent highs; small caps raise concern
Published on May 15, 2014 5:04 AM
NEW YORK (REUTERS) - US stocks fell on Wednesday, with the Dow and S&P 500 retreating from recent record highs, as small caps resumed their sell-off and consumer discretionary shares lagged.
The S&P consumer discretionary index was down 1.1 percent and led the decline on the S&P 500. The S&P retail index lost 1.1 per cent.
Macy's shares dipped 0.2 per cent to US$57.83 (S$72.30) after the department store operator reported sales that missed expectations.
Retailer Fossil Group Inc was the biggest per centage decliner on the S&P 500, a day after it gave a second-quarter profit outlook that was much lower than expected. Shares sank 10.3 per cent to $100.00.
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