US stocks slipped on Thursday after another powerful earthquake hit Japan, renewing concerns about supply disruptions and the country's ongoing nuclear issue, but markets were off their lows as a number of retailers rallied on strong monthly sales.
There were no reports of injuries in the quake, which had a magnitude of 7.4 and triggered a tsunami warning, but investors remain cautious on the region after the March 11 devastating quake and tsunami. The iShares MSCI Japan Index ETF dropped 0.5 percent, rebounding off earlier lows, while dollar-denominated Nikkei futures slid 1.2 percent. US-listed shares of Sony Corp fell 0.9 percent. The CBOE Market volatility index spiked 2.8 percent after the news of the quake. Honda Motor Corp rose 0.2 percent on volume that neared its 50-day average.
The Dow Jones industrial average was down 41.97 points, or 0.34 percent, at 12,384.78. The Standard & Poor's 500 Index was down 3.10 points, or 0.23 percent, at 1,332.44. The Nasdaq Composite Index was down 3.63 points, or 0.13 percent, at 2,796.19.