NEW YORK, Sept 16 — Wall Street indexes fell today as losses in heavyweight technology and oil stocks offset cheer over strong retail sales indicating economic resilience.
Stocks have struggled to hold on to record highs hit earlier this month due to seasonally weaker trends in September, as well as concerns that the economic recovery could lose steam towards the end of the year. Data yesterday had also shown a dip in import prices, which coupled with a recent reading that showed consumer prices were slowing, implied that inflation had likely peaked and would fall to more manageable levels eventually.
US-listed Chinese stocks extended losses, with Beijing’s regulatory overhaul of gambling in Macau coming as the latest source of consternation for a sector already hurt by crackdowns on technology and education services. Among other movers, videogame publisher EA rose 0.5 per cent, as it maintained its guidance despite delaying the launch of its widely anticipated “Battlefield 2042” title by a month.
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