Walmart startled investors on Wednesday by slashing its sales forecast for the year, warning that heavy investments in wages and in e-commerce would curb future earnings.
The news sent Walmart shares plunging, casting a pall over retail stocks, as analysts worried about broader ripple effects across the economy, and about consumer spending ahead of the holiday season.
13:09 JCPenney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead15
15:45 Warren Buffett rails against fee-hungry Wall Street managers11
12:48 Early movers: JCP, FL, HLT, GS, WEN, HPE, JWN, GPS, PSO, GOOGL & more11
11:54 Hilton sets $1 billion share buyback program12