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