2023-04-14 20:51:35
New York Weak retail sales in the US pushed Wall Street into the red on Friday despite strong balance sheets from major US banks. The Dow Jones lost 0.4 percent to 33,886 points. The tech-heavy Nasdaq was also down 0.4 percent to 12,123 and the broader S&P 500 was down 0.2 percent to 4138. On a weekly basis, however, all three indices rose: the Dow by 1.2 percent, the S&P by 0.8 percent and the Nasdaq by 0.3 percent.
US retail sales in March fell 1.0 percent from the previous month. Economists polled by Archyde.com had expected a drop of 0.4 percent. “These numbers suggest that the economy could actually be slowing to the point where we have to worry about recession rather than inflation,” said Robert Pavlik, portfolio manager at money manager Dakota Wealth.
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