Inflation fears push Dow down 121; JC Penney profits drop 9%
CBS
Transcript
[Music] renewed inflation fears send stocks lower again today Rising energy and food prices pushed a key measure of retail inflation higher last month investors are worried about how Rising prices will affect consumers plans for the holiday shopping season JC Penny is already seeing a Slowdown the department store chain posting a 9% drop in quarterly profits thanks to weaker sales it also issued a warning for its full year earnings on Wall Street investors added to Wednesday's losses the Dow tumbled 121 points the NASDAQ fell back 25 triaa says record high gas prices won't keep American Travelers off the roads this Thanksgiving the agency expects a record 38.7 million people to travel 50 miles or more over the Thanksgiving holiday weekend even though gas prices are a dollar more than last year and new cars are getting safer according to an insurance industry study three times many new cars received the highest safety marks this year compared to last Asian car makers had the most top rated vehicles Toyota's Tundra top the safety list others include Hyundai's Entourage minivan the Mercedes mclass SUV and the Volvo XC90 that's your money watch click on cbsnews.com for more in New York I'm Alexis christopherus