Dow falls 229 points, Walmart worst performer off 7.6%

  • Dow falls 229 points, Walmart worst performer off 7.6%

    All three of the U.S. benchmark stock averages lost ground as investors reacted to a basket of disappointing earnings led by Walmart which cut its profit forecast due to inflation pressures. Shares were the worst Dow member dragging down consumer discretionary stocks which weighed on the S&P 500 and Nasdaq Composite with declines in Bed Bath and Beyond, Amazon and Dollar Tree shares. In commodities, oil slipped 1.8% to $94.98 per barrel.

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