Wall St slips on earnings

S&P 500 retreats from record high after weak results from Citi, Best Buy.

United States shares are weaker in early afternoon trade, a day after the S&P 500 closed at a new record.

After two straight days of strong gains, investors were put off by disappointing earnings from Citigroup and Best Buy's poor holiday sales.

At 0430 AEDT, the Dow Jones Industrial Average was down 78.16 points, or 0.47%, at 16,403.78.

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