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Economic Blues Sink Blue Chips 337 Points

Stock quotes in this article: JAVA , NOK , C , FRE , RBS , KSS , MSFT  

Updated from 3:59 p.m. EST

Stocks in New York retreated from a brief afternoon rally to close with losses Friday, as traders assessed the worst retail-sales decline on record and companies continued to signal that economic hardship would hurt future profit.

The Dow Jones Industrial Average lost 336.85 points, or 3.8%, to 8498.42, and the S&P 500 gave back 38 points, or 4.2%, to 873.29. The Nasdaq shed 79.85 points, or 5%, to 1516.85.

For the week, the Dow fell 5%, the S&P 500 dropped 6.2% and the Nasdaq tumbled 7.9%. ...

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