Wall Street drops after lukewarm retail report as US shoppers remain cautious
by Jana Kasperkevic in New York from on (#TGAH)
Dow falls more than 200 points over consumer spending and interest rate worries as observers say high rents may curtail shopping during the holiday season
The economy might be faring better this year, but that does not mean Americans will be going all out this holiday season, according to the latest economic data.
US retail sales barely rose in October, thanks to lower-than-expected car sales, data released on Friday shows. Could this be a sign of gloomy sales ahead? It might be too early to say, but the news was enough to push US stock markets lower.
Related: American wages remain at 1997 levels as recovery fails to lift middle class
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