Retailers Closed after Boston Bombing

Retailers and other public places are on high alert in major cities across the U.S. after Monday's bombings near the finish line of the Boston Marathon.

Stock markets are expecting a downturn today and economic slowdown related to the treat of terrorism reports WWD.

U.S. Homeland Security officials and the police have stepped up security in cities like New York, Boston, Chicago and Los Angeles in the aftermath of the three explosions in the Boston area (plus five undetonated devices found). London has also taken steps to highten security as a precaution to their marathon being held on Sunday.

Copley Place is home to 75 stores including Neiman Marcus, Tiffany & Co., Louis Vuitton and Barneys New York. They all closed late Monday afternoon and will remain closed today according to a spokesman for Simon Property Group Inc., which owns the mall. They are awaiting word from city officials as when they should reopen and resume business.

Saks Fifth Avenue, located at 800 Boylston Street in Boston, also closed Monday afternoon and it was expected to remain closed today. J. Crew closed its Madewell store on Newbury Street in addition to its three stores in Copley Place and it is unclear when these stores will reopen.

In New York City, the Police Department has stepped up security at hotels and other prominent locations but no stores have closed. Chief NYPD spokesman Paul Browne said, "critical response teams were being deployed around the city until more about the explosions was learned."

New York Gov. Andrew Cuomo said, "I have directed state agencies, including the Division of Homeland Security and Emergency Services, State Police, the MTA and the Port Authority, to be on a heightened state of alert as we learn more about this incident."

Officials in Los Angeles also stepped up security in public areas such as shopping malls, as did Chicago and Washington D.C.

Two explosions went off at the packed finish line of the Boston Marathon at 2:50 p.m. yesterday afternoon. A third explosion was later reported at the John F. Kennedy Memorial Library in Dorchester. Boston Police Commissioner Ed Davis said, "The preliminary investigation indicates that the incident at the JFK may not have been an explosion. The device may have been incendiary in nature. It may have been a fire. The nature of the incident is uncertain at this time and the cause is still under investigation."

At least three people were killed in the bombings near the marathon and more than 100 injured.

At a press conference early Monday evening, President Barack Obama said, "We still don't know who did this or why. We will find out who did this and they will be held responsible."