US STOCKS-Retail stocks lead selloff on Wall St after earnings

martes 20 de mayo de 2014 16:51 GYT
 

* Retailers' shares slide after earnings

* GM recalls another 2.42 million vehicles

* Aeroflex jumps; Cobham to buy Aeroflex for $1.46 bln

* Dow off 0.8 pct; S&P 500 down 0.7 pct; Nasdaq off 0.7 pct (Updates to close)

By Angela Moon

NEW YORK, May 20 (Reuters) - U.S. stocks fell in a broad selloff on Tuesday, with major indexes hitting session lows in afternoon trading, led by losses in the retail sector after disappointing results from Staples and TJX Companies.

All 10 primary S&P 500 sector indexes fell, and nearly three-fourths of Nasdaq-listed names were down for the day.

The S&P 500's top five decliners were all retail stocks, including TJX Cos Inc, down 7.6 percent at $53.95, after the owner of off-price chain stores TJ Maxx and Marshalls reported lower-than-expected quarterly revenue.

Staples Inc tumbled 12.6 percent to $11.71 after the office supply retailer posted first-quarter earnings and forecast a decline in sales in the current quarter. The S&P retail index fell 1 percent.   Continuación...