US stocks fall on drop in retail sales

NEW YORK: US stocks opened lower Friday after a government report showed a drop in March retail sales.

Five minutes into trade, the Dow Jones Industrial Average dropped 41.09 (0.28 percent) to 14,824.05.

The broad-based S&P 500 fell 6.49 (0.41 percent) to 1,586.88, while the tech-rich Nasdaq Composite Index dipped 10.68 (0.32 percent) to 3,289.48.

The losses came after the Commerce Department reported a 0.4 percent drop in March retail sales compared with February. Sales were down over a number of key categories: auto, electronics, food and beverage, health spending and gasoline.