* Euro falls versus dollar and yen after ECB's Draghi
* January retail sales beat expectations, but worries remain
* Greenlight's Einhorn sues Apple, seeks bigger payout
* Indexes: Dow off 0.5 pct, S&P off 0.4 pct, Nasdaq off 0.5
By Caroline Valetkevitch
NEW YORK, Feb 7 U.S. stocks fell on Thursday as
comments by the ECB president on the euro raised worries about
Europe's outlook and curbed investors' appetite for risky
The euro currency dropped against the safe-haven dollar and
yen after European Central Bank President Mario Draghi said the
exchange rate was important to growth and price stability, which
investors took as a sign the bank is concerned about the euro's
advance in recent days.
Materials shares were among the weakest performers on the
S&P 500, with the S&P 500 materials index down 0.7
percent, while housing stocks also declined. A housing sector
index was off 1.4 percent.
Despite the day's decline and weakness earlier this week,
the stock market has been in an almost uninterrupted uptrend for
most of the year, with the S&P 500 gaining more than 5 percent
Many investors could see buying opportunities in the
"I don't think there's the systemic risk that we had some
time ago of bank failures in Europe and so forth. They seem to
be ahead of that sort of crisis," said Dan Veru, chief
investment officer of Palisade Capital Management, in Fort Lee,
The Dow Jones industrial average was down 67.95
points, or 0.49 percent, at 13,918.57. The Standard & Poor's 500
Index was down 6.31 points, or 0.42 percent, at 1,505.81.
The Nasdaq Composite Index was down 16.76 points, or
0.53 percent, at 3,151.72.
Top U.S. retailers reported strong January sales after
offering compelling merchandise that drew in shoppers facing a
hit to their take-home pay from higher payroll taxes.
But an index of retailers was down 0.3
Macy's Inc rose 1.5 percent to $40.09 after reporting
January same store sales rose 11.7 percent.
But Ann Inc dropped 6.7 percent to $30.59 after
forecasting fourth-quarter sales below analysts' expectations.
Fund manager David Einhorn's Greenlight Capital on Thursday
said it has sued Apple Inc and said the company needs
to do more to unlock value for shareholders. Apple shares gained
0.6 percent to $457.43.
Akamai Technologies Inc lost 15.6 percent to $35.06
as the worst performer on the S&P 500 after the Internet content
delivery company forecast current-quarter revenue below