U.S. stock indexes fell Tuesday as July retail sales declined and concerns about slowing global economic growth intensified.
Still, Tuesday's losses came after the Dow Jones Industrial Average and S&P 500 closed at record highs in the prior session.Retail sales
declined 1.1% in July, a steeper drop than the 0.3% dip expected by economists surveyed by Dow Jones. The Census Bureau revised June's reading to a 0.7% jump. "When we're looking at the expectations for consumer strength going forward, some of the edge is being taken off by the rise in the delta variant," BMO Wealth Management's Yung-Yu Ma said. "These challenges aren't going to go away quickly.", weighing on the Dow. While quarterly earnings topped estimates, same-store sales rose 4.5% in the period, below the 5% consensus estimate of analysts polled by StreetAccount. U.S. same store sales increased by just 3.4%..
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