Stocks Plunge Despite Retail Surge

Stocks plunged at the open this morning, despite a surprisingly good retail sales report, the Wall Street Journal reports. Retail sales unexpectedly rose 1% in January, ending a seven-month slide, but the Dow tumbled more than 150 points at the open anyway. The S&P shed 1.7% and the Nasdaq more than 2%. Financials pessimism pervaded, with Bank of America and Citigroup down more than 5%. (More stock market stories.)