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Stocks fall on Wall Street as retailers disappoint

Tuesday - 8/6/2013, 4:47pm  ET

FILE - In this Wednesday, July 31, 2013, file photo, Richard Newman, second left, works with fellow traders on the floor of the New York Stock Exchange. Stock futures bounced from earlier lows Tuesday, Aug. 6, 2013, after the U.S. reported record exports in June and new data was released showing that home prices are rising sharply. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stocks are closing lower after retailers disappointed the market with weaker profit forecasts.

Investors also worried that the Federal Reserve may be close to reducing its economic stimulus.

The Dow fell 93 points, or 0.6 percent, to close at 15,518 points Tuesday.

The Standard & Poor's 500 index fell nine points, or 0.6 percent, to 1,697.

The Nasdaq composite index fell 27 points, or 0.7 percent, to 3,665.

American Eagle slid 12 percent to $17.57 after the teen retailer slashed its earnings forecast, blaming weak sales.

CVS Caremark fell 3 percent to $59.89 after cutting the top end of its 2013 earnings forecast.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume was below average at 3.1 billion shares.


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