Wall Street ends sharply lower as Target and growth stocks sink
2 years, 7 months ago

Wall Street ends sharply lower as Target and growth stocks sink

Hindustan Times  

Wall 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. "We think the developing impact on retail spending as inflation outpaces wages for even longer than people might have expected is a principal factor in causing the market sell-off today," said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute. "The cons outweigh the pros for growth stocks at this particular moment, and the market is trying to decide how bad it's going to get," said Liz Young, head of investment strategy at SoFi. Wall Street's recent sell-off has left the S&P 500 trading at around 17 times expected earnings, its lowest PE valuation since the 2020 sell-off caused by the coronavirus pandemic, according to Refinitiv data.

History of this topic

Wall Street today: US stocks mixed as funding bill averts partial shutdown, Nvidia gains 1.6%, Qualcomm climbs 2.8%
Trending News
21 hours, 47 minutes ago
Wall Street heads for upbeat open as investors cheer US inflation data
Trending News
1 day ago
Stock market today: Asian shares are mostly higher after Wall Street rally caps a dismal week
1 day, 8 hours ago
Wall Street Holidays next week: NYSE, Nasdaq to remain closed on THESE days
Trending News
2 days, 3 hours ago
How major US stock indexes fared Friday, 12/20/2024
3 days, 15 hours ago
Wall Street rises to turn a dismal week into just a bad one
4 days, 8 hours ago
How major US stock indexes fared Thursday, 12/19/2024
4 days, 15 hours ago
Wall Street today: US stocks edge higher in anticipation of Fed rate cut, Nvidia rallies
5 days, 22 hours ago
How major US stock indexes fared Tuesday, 12/17/2024
6 days, 15 hours ago
Stock market today: Wall Street trims its stellar gains as Nvidia’s star dims again
1 week ago
Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve’s meeting
1 week, 1 day ago
How major US stock indexes fared Friday, 12/13/2024
1 week, 3 days ago
How major US stock indexes fared Thursday, 12/12/2024
Trending News
1 week, 4 days ago
Wall Street today: S&P 500, Nasdaq slid at US market open as investors eye economic data ahead of Fed meeting
1 week, 4 days ago
How major US stock indexes fared Wednesday, 12/11/2024
1 week, 5 days ago
Stock market today: Wall Street gets back to climbing, and the Nasdaq tops 20,000
1 week, 6 days ago
Wall Street gets back to climbing, and the Nasdaq tops 20,000
1 week, 6 days ago
How major US stock indexes fared Tuesday, 12/10/2024
1 week, 6 days ago
Wall Street today: US stocks open mixed; Google rises over 4%, Oracle slumps 8%
1 week, 6 days ago
Stock market today: Wall Street slips to a rare back-to-back loss
2 weeks ago
Stock market today: Wall Street slips to a rare back-to-back loss
2 weeks ago
Stock market today: Nvidia drags Wall Street from its records as oil and gold rise
2 weeks, 1 day ago
Can stocks pull off a third consecutive year of big gains?
2 weeks, 1 day ago
How major US stock indexes fared Friday, 12/6/2024
2 weeks, 3 days ago
Wall Street today: US stocks edge higher after strong jobs data
2 weeks, 3 days ago
How major US stock indexes fared Thursday, 12/5/2024
2 weeks, 4 days ago
Indexes near flat but still near closing highs
2 weeks, 4 days ago
Wall Street parties like it’s 1998 as AI fuels gains unmatched since dot-com era
2 weeks, 5 days ago
Stock market today: Wall Street edges back from its records as bitcoin briefly pops above $100,000
2 weeks, 5 days ago
How major US stock indexes fared Wednesday, 12/4/2024
2 weeks, 5 days ago
S&P 500 Ekes Out Gain to Notch 55th Record in 2024: Markets Wrap
2 weeks, 6 days ago
How major US stock indexes fared Tuesday, 12/3/2024
2 weeks, 6 days ago
Wall Street today: S&P 500 and Dow Jones slip, Nasdaq edges higher
2 weeks, 6 days ago
Stock market today: Wall Street inches higher to set more records
3 weeks ago
Wall Street inches higher, setting more records
3 weeks ago
How major US stock indexes fared Friday, 11/29/2024
3 weeks, 5 days ago
Stock market today: Losses for Big Tech pull US indexes lower
3 weeks, 6 days ago
Losses for Big Tech pull U.S. stock indexes lower
3 weeks, 6 days ago
How major US stock indexes fared Tuesday, 11/26/2024
3 weeks, 6 days ago
How major US stock indexes fared Monday, 11/25/2024
4 weeks ago
How major US stock indexes fared Friday, 11/22/2024
1 month ago
Wall Street turns positive as Dow hits one-week high
Trending News
1 month ago
Stock market today: Wall Street rises with Nvidia as bitcoin bursts above $99,000
1 month ago
Wall Street today: US stocks drop amid geopolitical tensions, Nvidia earnings in focus, Target tanks 20%
1 month ago
Stock market today: Wall Street drifts as Target tumbles
1 month ago
Wall Street drifts as Target tumbles
1 month ago
How major US stock indexes fared Tuesday, 11/19/2024
1 month ago
Wall Street today: US stocks slip as investors rush to safe-haven assets on escalating Russia-Ukraine tensions
1 month ago
How major US stock indexes fared Monday, 11/18/2024
1 month ago
Wall Street rises following last week’s slide
1 month ago

Discover Related