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Article: Apparel, retail stocks hit by tumbling Dow Jones. (Dow Jones Industrial stocks)
- Article from:
- WWD
- Article date:
- December 9, 1994
CopyrightCOPYRIGHT 1994 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Apparel and retail stocks were caught in the downdraft as the Dow Jones Industrials slumped 49.79 points Thursday, reacting to the fallout from the bankruptcy of Orange County, California.
As a result of the bankruptcy, billions in securities held as collateral by investment firms have been frozen and the consequences are still unclear.
Among the most active issues on the New York Stock Exchange, Wal-Mart Stores dropped 1 1/8 to 21 1/4, a new 12-month low for the discounter.
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