Following a poor estimate from retail behemoth Walmart, stocks fell Thursday, one day after the S&P 500 reached a new all-time high.
As they consider the state of the economy, investors also seemed to sell some favourites.
607 points, or 1.3%, were taken off the Dow Jones Industrial Average. The Nasdaq Composite fell 0.8% and the S&P 500 fell 0.8%.
Walmart, a Dow member, had its stock fall more than 6% after announcing that it anticipates a 3%–4% increase in fiscal year sales. On the other hand, the company’s fiscal 2026 earnings estimate fell short of analyst expectations.
Fiscal fourth-quarter earnings above expectations, but the poor forecast overshadowed those results.
Source (CNBC)
