U.S. Stocks Extend Slump to 15-Month Low After Retail Sales Data
- 8 years ago
U.S. stocks sank to a 15-month low, with the Standard & Poor's 500 Index tumbling below a low hit on Aug. 25, as the rout in oil persisted and data showing falling retail sales rekindled concern about the health of the economy.
"The growth picture in the U.S. is getting cloudier, and the fact that the Fed tightened in a weak environment is certainly not helping," said Krishna Memani, chief investment officer at Oppenheimer Funds Inc. in New York.
Corporate earnings may offer cues on the strength of the U.S. recovery, with seven S&P 500 companies posting results today.
"The growth picture in the U.S. is getting cloudier, and the fact that the Fed tightened in a weak environment is certainly not helping," said Krishna Memani, chief investment officer at Oppenheimer Funds Inc. in New York.
Corporate earnings may offer cues on the strength of the U.S. recovery, with seven S&P 500 companies posting results today.