Walmart profit downgrade sends stocks sliding amid ongoing recession fears

Walmart profit downgrade sends stocks sliding amid ongoing recession fears

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A gloomy projection from global retailer Walmart this week sent stocks sliding as economists and analysts continue to sound warning bells about a potential recession on the horizon.
Walmart in an earnings update posted to its website said it was "lower[ing] profit outlook for Q2 and FY23," with "adjusted earnings per share" and "operating income" both expected to see potential double-digit slides. 
Stocks dropped following that report, with the Dow, NASDAQ and SP 500 all notching declines on Tuesday. Walmart itself experienced its sharpest plunge in months, falling from about $132 per share at close on Monday to $121 on...
Source: https://justthenews.com/nation/economy/walmart-profit-downgrade-sends-stocks-sliding-amid-ongoing-recession-fears?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators