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Wall Street sinks on retail sales, Disney drops late | Markets | Hot Stocks | Reuters
NEW YORK (Reuters) - Stocks sold off on Thursday in the worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling fears of a deepening economic downturn.
Underscoring concerns about anemic consumer spending heading into the holiday season, retail chains posted the worst monthly sales data in more than three decades as consumers, beleaguered by the financial crisis, slashed spending in October.
NEW YORK (Reuters) - Stocks sold off on Thursday in the worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling fears of a deepening economic downturn.
Underscoring concerns about anemic consumer spending heading into the holiday season, retail chains posted the worst monthly sales data in more than three decades as consumers, beleaguered by the financial crisis, slashed spending in October.
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