Stock market today: A slide for Walmart pulls Wall Street from its record, and Dow drops 450
The stock market experienced a sharp downturn on Thursday, with the S&P 500 slipping 0.4% and the Dow Jones Industrial Average losing 450 points. The decline was largely driven by Walmart's 6.5% drop, despite reporting stronger profit for the latest quarter than analysts expected. The Bentonville-based retailer's forecasted growth in revenue for the upcoming year fell short of analyst expectations, pulling stocks lower across the retail industry.
- This market downturn highlights the vulnerability of the stock market to economic data that may not align with investor expectations, underscoring the need for a more nuanced understanding of market sentiment.
- How will the ongoing trend of retailers revising their revenue forecasts impact consumer spending and inflation in the coming months?