Strong retail sales stoke fears of longer U.S. interest rates as Wall St tumbles By Reuters

2023-08-15 22:31:05

© Reuters. Traders trade on the New York Stock Exchange 7/19/2023 REUTERS/Brendan McDermid

By Saeed Azhar and Amruta Khandekar and Shristi Achar A

NEW YORK (Reuters) – Wall Street’s main stock indexes closed lower on Tuesday after stronger-than-expected retail sales data fueled fears that U.S. interest rates could remain high for longer. longer, while major US banks fell on a report that Fitch could downgrade some financial institutions.

According to preliminary data, the lost 1.15% to 4438.12 points. The technology index retreated 1.13% to 13,632.52 points. The fell 1.01% to 34,951.30 points.