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Retail disappointments, energy decline hit Wall Street; Dow falls 513 pts

The S&P 500 and Dow slipped into negative territory for the year, and the Nasdaq fell to its lowest level in more than seven months

Caroline Valetkevitch | Reuters  |  New York 

US stocks extended their recent selloff on Tuesday, with the S&P 500 hitting a three-week low, as energy shares dropped with oil prices and retailers including Target and Kohl's sank after weak earnings and forecasts. Target Corp shares slumped 9.5 per cent after third-quarter profit missed analysts' estimates. The company's investments in its online business, higher wages and price cuts hurt margins. Department store operator Kohl's Corp shed 7.8 per cent after its full-year profit forecast fell below expectations. Warnings from retailers added to caution ...

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First Published: Wed, November 21 2018. 01:37 IST