NEW YORK (AP) — It wasn’t the Valentine’s Day investors were hoping for.
Stocks opened lower on Wall Street Tuesday, weighed down by disappointing news about January retail sales in the U.S. and continuing economic struggles in Europe.
The Dow Jones industrial average slid 22 points to 12,852 in early trading. The Standard & Poor’s 500 fell 3 points to 1,349. The Nasdaq fell 8 points to 2,923.
The government reported that U.S. retail sales rose 0.4 percent last month, missing the 0.7 percent growth analysts had predicted.
Late Monday Moody’s downgraded its debt ratings on six European countries, including Italy, Portugal and Spain. Moody’s also said it might cut France, Austria and the U.K. as well. Greek leaders said the country’s economy shrank 7 percent in the fourth quarter.