Retailers were having a tough session early Monday.

The only apparent industry-wide news that could explain the selloff was a note from Telsey Advisory Group saying that Action Alerts PLUS holding Amazon Inc. (AMZN) - Get, Inc. Report could capture 10% of all retail sales by 2020. 

The firm initiated Amazon with an "outperform" rating, saying, "Amazon's customer-centric approach, relentless pursuit of efficiency in existing and new businesses, strong and growing Prime membership base, and advanced technology platforms have differentiated the company and made it a preferred shopping destination."

Retail ETFs were suffering, too, Monday with the Market Vectors Retail ETF (RTH) - Get VanEck Vectors Retail ETF Report falling 0.3%, while the SPDR S&P Retail ETF (XRT) - Get SPDR S&P Retail ETF Report fell 0.64% and the First Trust Consumer Discret AlphaDEX ETF (FXD) - Get First Trust Consumer Discretionary AlphaDEX Fund Report fell 0.5%. The S&P Department Store Index (below) hovered dangerously near the 100-day moving average.  

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Individual retailers were also faltering Monday. 

Retail stocks get whipped on Monday. Source: Bloomberg