Retailers and other consumer companies fell sharply as traders hedged their bets on the outlook for earnings and economic growth.
Earnings reports are suggesting a major slowdown in growth, according to one brokerage.
"Fourth-quarter earnings-per share is tracking a 1% miss with no big surprise so far," said strategists at brokerage Bank of America Global Research, in a note to clients.
On Monday, Bed Bath & Beyond shares rallied after the home-goods store updated store-closure plans.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-30-23 1702ET