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MarketWatch MarketPulseMay 18, 2022
Walmart's stock suffers biggest 2-day selloff since 1987
Shares of Walmart Inc. sank 6.6% toward a 22-month low in midday trading Wednesday, as it fell in sympathy with the plunge in rival discount retailer Target Corp.'s stock on the back of a big earnings miss. Walmart's stock drop follows an 11.4% tumbled on Tuesday, after the company's disappointing fiscal first-quarter report. The stock's two-day selloff of 17.3% would be the worst two-day performance since fell 19.0% in the two days ending Oct. 19, 1987. Keep in mind that after that two-day selloff, the stock bounced over the next month, but hit a lower low in early December. The next biggest two-day decline was 15.6% on Feb. 17, 2000; it continued to decline over the next week before bouncing, then fell to a lower low before the end of the year. Walmart shares have now shed 15.3% year to date, while the Dow Jones Industrial Average has lost 12.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatchMay 18, 2022
Futures Movers: Oil prices end lower despite surprise drop in U.S. crude inventories as gasoline demand picks up
Oil prices lose ground, failing to find support even after an unexpected drop in U.S. crude inventories, as a stock-market selloff calls the tune.
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