Retail, Economic Data Lower Stocks (Bloomberg)
U.S. stocks hit their third straight session of decline as investors scoured retail sales and economic data in an attempt to determine when the the Federal Reserve will taper its stimulus. “It’s really a mixed picture right now,” Dan Veru, the chief investment officer at Palisade Capital Management LLC, said. “In the absence of any bigger data, investors are grasping for these little bits of micro data in trying to develop a conclusion. Any market that’s appreciated as much as the stock market has this year is going to be vulnerable to sell-offs.”
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