Stocks drop on holiday spending worry
U.S. stocks fell on Monday as investors worried that the holiday shopping season might have gotten off to a tepid start as consumers trimmed purchases over the Thanksgiving Day holiday amid concerns about an uncertain economy.
The S&P retail index <.RLX> fell 1.6 percent, while the S&P consumer discretionaries index <.GSPD> tumbled 1.2 percent.
The Dow Jones industrial average <.DJI> dropped 28.19 points, or 0.27 percent, to 10,281.73. The Standard & Poor's 500 Index <.SPX> fell 3.83 points, or 0.35 percent, to 1,087.66. The Nasdaq Composite Index <.IXIC> slid 15.29 points, or 0.72 percent, to 2,123.15.
(Reporting by Ellis Mnyandu; Editing by Jan Paschal)
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