U.S. markets slide early

New York -- U.S. markets tipped lower Tuesday morning although Commerce Department figures show retail sales grew faster than expected in August.

Total sales receipts reached $363.7 billion in the month, up 0.4 percent from July and 3.6 percent above August 2009. Economists had predicted a 0.3 percent month-to-month improvement.

In midmorning trading, the Dow Jones industrial average lost 27.48 points or 0.26 percent to 10,516.65. The Standard & Poor's 500 index lost 4.17 or 0.37 percent to 1,117.73. The Nasdaq composite index lost 6.86 or 0.3 percent to 2,278.85.

The benchmark 10-year Treasury note rose 16/32 to yield 2.69 percent.

The euro rose to $1.288 from Monday's $1.2876. Against the yen, the dollar fell to 83.157 yen from Monday's 83.67 yen.

In Tokyo, the Nikkei 225 index slipped 0.24 percent, 22.51, to 9,299.31.

Copyright 2010 United Press International, Inc. (UPI).

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