Stocks Open Lower As Jitters About Retail Return

By: Associated Press
By: Associated Press

Wall Street's worries about weak consumer spending are reviving, sending stocks lower after even strong retailers reported weak sales for the holiday shopping season.

Companies from Wal-Mart Stores Inc. to Saks Inc. reported disappointing sales, giving the overall industry its wost holiday season in four decades. Shoppers pulled back more than expected, adding to Wall Street's fears that a reluctant consumer will prolong an already difficult recession.

The Dow Jones industrial average is down 73 at the 8,696 level. Broader indexes are also lower.

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