Stocks fell Thursday after the S&P 500 saw two days of all-time highs as investors unloaded some well-known companies after retail behemoth Walmart gave a poor prediction that raised concerns about the state of the economy.
At 44,176.65, the Dow Jones Industrial Average dropped 450.94 points, or 1.01%.
The S&P 500 experienced a 0.43% down, closing at 6,117.52, while the Nasdaq Composite experienced a 0.47% decline, closing at 19,962.36.
Following its announcement that it anticipates a 3%–4% increase in fiscal-year revenue, Walmart, a Dow member, saw a 6.5% decline.
Meanwhile, the company’s earnings prediction for fiscal 2026 fell short of analysts’ projections.
Overshadowed by the poor projections were fiscal fourth-quarter earnings that exceeded forecasts.
Source (CNBC)
