More Pain Ahead For This Group Of Stocks

China's decision to let its currency rise is bad news.

Retailers are "officially" in a bear market.

That's what CNBC reporter Matt Nesto said last week. And he's right. A bear market is defined by a 20% drop in a stock or index from its peak. Matt was referring to the Morgan Stanley Retail Index (MVR). As you can see from the chart below, the retail index – which includes the largest retail stocks trading in the U.S. – is down 21% from its April 26 high.

Read the rest of this story here.