Why Nordstrom and Other Upscale Retail Stocks Are Falling Today
Shares of several upscale apparel retailers were sliding along with much of the broader market on Wednesday, after Federal Reserve Chairman Jerome Powell shared concerns about the outlook for the U.S. economy in remarks on Wednesday morning.
Here's where things stood for these three companies' stocks as of 3:30 p.m. EDT, relative to their closing prices on Tuesday.
Many U.S. stocks fell on Wednesday after Powell said the outlook for the economy is "highly uncertain and subject to significant downside risks," and said that the government may need to spend more to support the economy's recovery from the current COVID-19-induced downturn.
Source Fool.com
