Walmart’s profit problems impact retail stocks and heighten consumer spending worries
Walmart Inc. (WMT.N), the industry leader, lowered its estimate, igniting concerns about a broader slowdown in spending as high inflation drives up expenses for customers. Shares of Walmart fell over 8%, while those of Amazon (AMZN.O) and Target (TGT.N) both had declines of over 4%. The benchmark S&P 500 consumer discretionary sector (.SPLRCD) experienced the … Read more