ASX dips as banks and retail stocks drag

World shares are mixed and Brent crude is higher after worries over stagflation pull US stocks lower

NEW YORK — The Dow Jones Industrial Average declined in early trading Monday, falling 167.62 points, or 0.31%, to 53,564.79 as of 9:35 a.m. EDT, as investors digested weaker-than-expected U.S. retail sales data and assessed the outlook for Federal Reserve policy.

The S&P 500 slipped 0.1 percent but remains near its all-time high set Thursday.

Wall Street has run to records in large part because profits are booming for big U.S. companies.