A slide for Walmart pulls Wall Street from its record, and Dow drops 450

Category: Finance

Walmart's 6.5% drop led to a decline in major U.S. stock indexes, with the S&P 500 falling 0.4%. Despite reporting stronger profits, Walmart's profit forecast disappointed analysts amid high inflation and tariff concerns. Other retailers like Costco and Target also saw declines. Palantir Technologies dropped 5.2% following defense spending cuts discussions. In contrast, Baxter International and Shake Shack reported better-than-expected profits, with their stocks rising. The bond market showed lower Treasury yields, indicating potential economic concerns.

Keywords: Walmart, Stock Market, Inflation

Source: BNN

Update At: 2/21/2025

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