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Macy's Surrenders All September Gains In One Day

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Macy's Inc (NYSE: M) shares are trading lower by $1.21 (5.4 percent) at $20.60 in Monday's session.

It's participating in the rout in the retail sector that was instigated by a report that Nordstrom Inc. (NYSE: JWN)'s go-private deal could fall apart.

After ending August at $20.77, Macy's stock peaked in September at $22.87 and ended Friday's session at $21.82. It was unable to regain Friday's close off today's open, only reaching $21.72 before continuing its move lower.

The ensuing decline has taken Macy's beyond its September low ($20.79), reaching $20.37. That marks the lowest level for the stock since it bottomed on Aug. 23 at $20.21.

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