Home Depot (NYSE:HD) shares fell 5.4% and subtracted 88 points from the Dow by itself. Discount department store chain Kohls (NYSE:KSS) fell a whopping 19.5% after missing Street estimates for fiscal third-quarter earnings.
The problems of the two stocks spread across retailing generally, causing declines in shares of Walmart (NYSE:WMT), Macy’s (NYSE:) and Lowe’s Companies (NYSE:LOW), which reports quarterly results on Wednesday.
Commodity prices reacted to a threat by President Donald Trump to boost tariffs beyond levels scheduled to take effect on Dec. 15. Gold moved higher, but oil prices moved lower. West Texas Intermediate crude fell 3.1% in New York.
Oil stocks tumbled with crude and were the other big weight on stocks after retailers. Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Apache (NYSE:APA), Devon Energy (NYSE:DVN) and Halliburton (NYSE:HAL)were all lower.
But, overall, stock investors seemed less alarmed by the Trump threat.
Some good news hit the markets with bullish reports on housing starts and building permits, which should be helped by lower interest rates.
Boeing (NYSE:BA) shares were lower, however, after reporting new orders for its troubled 737 MAX jetliner and 787 Dreamliner.Original Article