Stocks Decline on Strong Dollar, Retail Issues Hold Steady

WWD

All the major indices plunged in morning trading amid numerous economic concerns that included falling oil prices (and its impact on energy stocks), debt talks in Greece, a strong dollar against the Euro and ongoing concern that last week’s jobs report will trigger an increase in interest rates.

Some analysts noted that this could also be the beginning of a market correction, which follows record highs for key indices such as the Dow Jones Industrial Average and the NASDAQ.

The Dow shed 196 points in mid-morning trading to 17,799.27 — a 1 percent decline — while the S&P 500 was off 22 points, or about 1 percent as well. At one point in trading, the Dow had erased all of its gains since the beginning of the year.

Interestingly, retail and apparel shares were holding steady — or at least not experiencing the same declines as other sectors. Urban Outfitters Inc. was…

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