US stocks opened lower Friday after terrible retail sales numbers, giving up Thursday gains.
America’s retail sales collapsed 16.4% in April, the lowest level since the data series began in 1992, according to the Census Bureau. The unprecedented month-to-month drop was worse than economists had expected and shines a light on how fragile consumer spending is during the pandemic.
Here's where things opened:
- The Dow opened down 0.9%, or 217 points.
- The S&P 500 fell nearly 1%.
- The Nasdaq Composite opened 1.1% lower.
All three major indexes are on track for a weekly loss.