Stocks fell in morning trading on Wall Street on Thursday, deepening a slump for major indexes as persistently high inflation continues to weigh on the economy.
Target fell another 5% a day after losing a quarter of its value on a surprisingly weak profit report. Department store company Kohl's was mostly unchanged after joining the list of retailers either reporting weak earnings or cutting forecasts because of pressure from inflation. The pile of concerns on Wall Street has made for very choppy trading and big swings between gains and losses within any given day.Technology stocks have been some of the most volatile holdings. The sector includes heavyweights like Apple that have lofty valuations, which tend to push the market more forcefully up or down. The sector has been hit especially hard by the Fed's policy shift to raise interest rates.
Wait.... People are just now starting to get worried?
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Japan's Nikkei 225 Drops More Than 2% as Asia Stocks Fall Following Tumble on Wall StreetMajor indexes on Wall Street declined more than 3.5% overnight, with the Dow Jones Industrial Average closing at its lowest since March 2021.
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Asia-Pacific stocks set for lower start following tumble on Wall StreetMajor indexes on Wall Street declined more than 3.5% overnight, with the Dow Jones Industrial Average closing at its lowest since March 2021.
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Wall Street ends sharply lower as Target and growth stocks sinkWall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices.
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