Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

By ALEX VEIGA
AP Business Writer 

Walmart's plunge sinks retailers, breaking streak for stocks

The biggest drop in Walmart’s stock in 30 years and losses in other sectors pulled U.S. indexes lower Tuesday, snapping a six-day winning streak.

 

February 21, 2018



The biggest drop in Walmart’s stock in 30 years and losses in other sectors pulled U.S. indexes lower Tuesday, snapping a six-day winning streak.

The losses deepened in the last hour of trading into a broad sell-off that erased early gains led by technology companies.

Walmart plunged 10 percent after reporting weak online sales and disappointing earnings. Grocery store operators, retailers, health care companies and industrial stocks accounted for much of the market’s slide.

“Investors have been lulled into a false sense that stock markets are not volatile,” said Doug Cote, chief ma...



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