The Dow Jones Industrial Average shed 50 points to close at 12,727.21 Monday while the Nasdaq and S&P 500 lost 11.53 points and 3.14 points, respectively.

In economic news, the Commerce Department reported that retail sales in June fell 0.5%, a third consecutive monthly decline and a significant disappointment to analysts who, on average, were predicting a 0.2% gain last month.

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