Retail sales decreased 0.6 percent, more than the Dow Jones prediction of a 0.3 percent decline.
Markets reacted negatively to the report as well as other negative economic news released Thursday.
The Dow Jones Industrial Average took a nosedive of more than 760 points on the news, on investors' fears that aggressive rate hikes from the U.S. Federal Reserve may trigger a recession.
Consumers pulled back on spending in several retail sectors. Furniture saw a 2.6 percent drop, garden centers and building materials ticked down 2.5 percent, and auto dealers and auto parts sellers saw a 2.3 percent fall.
Online retail sales also ticked downward, dropping 0.9 percent.
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