Wall Street performance dragged down by poorer-than-expected ret - 13 WTHR Indianapolis

Wall Street performance dragged down by poorer-than-expected retail sales


A disappointing start to the holiday shopping season is having a negative impact on stock trading. 

All three major indexes closed lower Monday, the first day of trading in December. Investors sold shares on signs that American shoppers - that seemingly inexhaustible fuel of global economic growth - may hold tight to their cash this holiday season. 

Shoppers turned out in record numbers over the four-day Thanksgiving weekend, but plunked down less cash than they did last year. It was the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006. 

Investors reacted by selling all types of retailer stocks, from department stores to specialty chains. J.C. Penney, Macy's and Target fell about 2 percent each. Urban Outfitters dropped nearly 4 percent.

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