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Markets Right Now: Weak sales report sinks US stock prices

FILE- In this Feb. 5, 2019, file photo trader Michael Urkonis works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a...

FILE- In this Feb. 5, 2019, file photo trader Michael Urkonis works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a...

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stock prices are opening broadly lower after the government reported a surprise drop in retail sales last month, raising concerns about how healthy the U.S. economy is.

Retailers took some of the heaviest selling in early trading Thursday. Amazon sank 1.2 percent.

Makers of consumer products were also broadly lower after Coca-Cola said the strong dollar could slow sales in the coming year.

Coke plunged 6.9 percent.

The S&P 500 fell 16 points, or 0.6 percent, to 2,736.

The Dow Jones Industrial Average lost 187 points, or 0.7percent, to 25,355. The Nasdaq fell 28 points, or 0.4 percent, to 7,391.

Bond prices rose sharply after the weak retail sales report. The yield on the 10-year Treasury fell to 2.65 percent.


Updated : 2021-05-12 06:38 GMT+08:00