Stocks fall on weak retail sales, foreclosure jump

NEW YORK - After its dizzying climb, Wall Street is looking at the economy more skeptically.

Stocks retreated more than 2 percent and bond prices rose after two reports showed that the economy is not bouncing back as quickly as investors hoped.

The Commerce Department said retail sales fell 0.4 percent in April, while RealtyTrac Inc. reported a troubling rise in home foreclosures.

According to preliminary calculations, the Dow Jones industrial average is down 184 points, or 2.2 percent, at 8,284.89.

The Standard & Poor's 500 index is down 24.44, or 2.7 percent, at 883.91, while the Nasdaq composite index is down 51.73, or 3 percent, to 1,664.19.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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