Stocks closed lower Friday amid weak outlooks from retailers and as the U.S. dollar rallied on concerns about Greek debt. Shares of clothing retailer Gap plunged 17.5 percent, while Aeropostale stock fell 14 percent after both companies lowered their full-year guidance, citing weaker demand and higher commodity costs. Several other retailers saw their shares decline. After debuting Thursday on the New York Stock Exchange, shares of LinkedIn remained more than double their initial public offering (IPO) price, making the business-oriented social network one of the biggest technology IPOs since Google. LinkedIn shares fell 1.2 percent during its second day as a publicly traded company. Meanwhile, Greece's debt troubles returned to haunt investors after Fitch Ratings cut the debt-ridden country's credit rating by three positions. The U.S. dollar gained versus the euro following the downgrade on Greece, and rose slightly versus the yen. Light sweet crude oil rose 12 cents to $99.61 a barrel on the New York Mercantile Exchange. Gold futures rose $16.50 to $1,508.90 an ounce. The Dow Jones industrial average fell 93.28, or 0.7 percent, to 12,512.04. The broader Standard & Poor's 500 index fell 10.33, or 0.8 percent, to 1,333.27. The technology-heavy Nasdaq composite index fell 19.99, or 0.7 percent, to 2,803.32.
