Stamford Advocate

Wall Street slips as retail sales post steep drop

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Stocks closed lower on Wall Street Tuesday, ending a five-day winning streak by the S&P 500, as investors turned cautious amid more signs that the coronaviru­s pandemic is still holding back the U.S. economy.

The benchmark index fell 0.7 percent, its biggest decline in four weeks. Technology stocks and a mix of companies that rely on consumer spending were the biggest weights on the market as traders become more concerned about the pace and breadth of economic growth amid a resurgent COVID-19. Those sectors tend to perform weakly in uncertain economic conditions.

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