(Corrects in 4th paragraph to show retail sales rose less than forecast)
NEW YORK - Stocks slid on Tuesday as a smaller-than-expected rise in retail sales raised doubts about a rebound in consumer spending, a vital part of an economic recovery.
Shares of NYSE Euronext
Shares of other U.S. exchanges also fell, including Nasdaq OMX Group Inc
Sales at U.S. retailers in January rose less than forecast, likely reflecting the effects from snowstorms that had slammed large parts of the country.
The S&P retail index <.RLX> dipped 0.1 percent.
The report contrasted with recent economic data, most of which has suggested the recovery was gaining traction.
If you look at what the equity market has done over the last (several months), you would assume the recovery is self-sustaining, said Subodh Kumar, an investment strategist based in Toronto. The S&P 500 is up 26 percent since September.
But the day's data was a splash of cold water on that view.
The Dow Jones industrial average <.DJI> dropped 56.04 points, or 0.46 percent, at 12,212.15. The Standard & Poor's 500 Index <.SPX> was off 5.73 points, or 0.43 percent, at 1,326.59. The Nasdaq Composite Index <.IXIC> declined 13.43 points, or 0.48 percent, at 2,803.75.
Volume totaled about 1.68 billion shares, average for morning trade.
Shares of JDS Uniphase Corp
In other economic data, a gauge of manufacturing in New York State climbed to its highest level in eight months in February, while U.S. import prices jumped at nearly double the forecast rate as energy costs shot up in another sign of creeping inflationary pressure.
(Additional reporting by Edward Krudy; editing by Jeffrey Benkoe)