Retailers and other consumer companies fell after weak housing data.
U.S. housing starts slowed to an annual pace of 1.43 million last month from 1.49 million in September, while housing permits plummeted from a year earlier.
Macy's rallied after the department store said sales were picking up in recent weeks after a slump in the third quarter, as shoppers delayed their holiday purchases.
Kohl's shares rose after the Macy's rival's sales slowdown was not as severe as some analysts had anticipated. Kohl's also withdrew its growth projection for the fourth quarter.
Shares of discounter Target rose after analysts at brokerage Piper Sandler forecast profit-margin growth.
Strength in retail-sales data Wednesday has sparked renewed concerns about inflation, said one strategist.
"Investors negatively interpreted the report, likely focusing on the risk that the Federal Reserve (Fed) may have to keep tightening monetary conditions," said Jeffrey Roach, chief economist at brokerage LPL Financial, in a note to clients.
Closely held Southeastern Grocers, owner of the Winn-Dixie and Harveys grocery-store chains, is exploring a sale, The Wall Street Journal reported.
Pro-union Starbucks Corp. workers have walked out of U.S. stores as baristas seek to push the company for higher pay and improved staffing levels.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-17-22 1659ET
