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goofball
Navy Fan
Member since Mar 2015
15115 posts

Stocks fall sharply today - More than 95% of stocks in S&P 500 down

quote:

Stocks fall sharply as Target’s woes renew inflation fears

LINK

Stocks closed sharply lower on Wall Street Wednesday as dismal results from Target renewed fears that inflation is battering U.S. companies. The S&P 500, the benchmark for many index funds, fell 4%. Target lost a quarter of its value, dragging other retailers down with it, after saying its profit fell by half in the latest quarter as costs for freight and transportation spiked. That comes a day after Walmart cited inflation for its own weak results. The Dow Jones Industrial Average dropped 1,164 points, or 3.6% and the tech-heavy Nasaq pulled back 4.7%. Treasury yields fell as investors sought safer ground.


quote:

The Dow Jones Industrial Average sank more than 1,100 points Wednesday, as big earnings misses by Target and other major retailers stoked investors’ fears that surging inflation could cut deeply into corporate profits.


quote:

The S&P 500 fell 4% as of 3:16 p.m. Eastern. The benchmark index is now down more than 18% from the record high it reached at the beginning of the year. That’s shy of the 20% decline that’s considered a bear market.


quote:

Target lost a quarter of its value after reporting earnings that fell far short of analysts’ forecasts. In a sign of the impact of inflation, particularly on shipping costs, Target said its operating margin for the first quarter was 5.3%. It had been expecting 8% or higher. The company also said consumers returned to more normal spending habits, switching away from TVs and appliances and buying more toys and travel-related items.

The report comes a day after Walmart said its profit took a hit from higher costs. The nation’s largest retailer fell 7.2%, adding to its losses from Tuesday.

The weak reports stoked concerns that persistently rising inflation is putting a tighter squeeze on a wide range of businesses and could cut deeper into their profits.

Retailers had some of the biggest losses. Dollar Tree fell 15.4% and Dollar General slumped 11.8%. Best Buy fell 11.6% and Amazon fell 7%.

Technology stocks, which led the market rally a day earlier, were the biggest drag on the S&P 500. Apple lost 5.9%.

All told, more than 95% of stocks in the S&P 500 were down.
This post was edited on 5/18 at 3:46 pm


dukke v
LSU Fan
PLUTO
Member since Jul 2006
189230 posts

This is why I don’t play the market.


Dragula
Georgia Fan
Laguna Seca
Member since Jun 2020
2297 posts

quote:

This is why I don’t play the market.


Agree, scratch offs are the way to go...


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440
Teddy Ruxpin
LSU Fan
Member since Oct 2006
37872 posts

Thanks goodness I'm invested in the Wilshire 5000.

Oh they are down too? Ok I have international. Them too huh?

Bonds too? Not bonds!


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111
EZE Tiger Fan
Member since Jul 2004
44838 posts

Every Democrat voter smiles ear to ear.

This is exactly what they told you they would do, now they are doing it. This administration is not a failure at all, despite what many say.


transcend
LSU Fan
Austin, TX
Member since Aug 2013
3948 posts

UVXY for 20% + today


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50
ibldprplgld
USA Fan
Member since Feb 2008
21346 posts

I’m tremendously scared we’re about to be in a world of pain. Not inconvenience, but actual pain. My outlook for the future has never been worse.


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133
member12
Marquette Fan
Bob's Country Bunker
Member since May 2008
29792 posts

Target lost a quarter of their market cap. Insane.

Cisco is in an entirely different sector and lost almost that much.


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30
FredBear
USA Fan
Member since Aug 2017
11870 posts
 Online 

Bidens* America


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233
fightin tigers
Downtown Prairieville
Member since Mar 2008
65913 posts

DIAMONDHANDS BABAAAYYYY!!!


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70
jclem11
Houston Astros Fan
Houston, Texas
Member since Nov 2011
6432 posts



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110
PassingThrough
Member since Sep 2021
631 posts

It is almost like people are buying things online more and more....changing technology has simply moved the market from in person shopping to ordering for delivery. It is what it is.


grizzlylongcut
Montana Fan
Member since Sep 2021
2181 posts

All those saying that we're heading for another recession are late. We're already in one.


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122
frequent flyer
LSU Fan
USA
Member since Jul 2021
1453 posts

quote:

Every Democrat voter smiles ear to ear.



They aren't worried. The fix is in for the next election. So the voters and their issues don't really matter.


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71
notiger1997
Metairie
Member since May 2009
52250 posts
 Online 

Cool


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00
soccerfüt
Location: A Series of Tubes
Member since May 2013
55863 posts

quote:

This is why I don’t play the market.
Alan Greenspan is envious of your fiscal acumen.


LNCHBOX
LSU Fan
70448
Member since Jun 2009
76812 posts

quote:

Target lost a quarter of its value, dragging other retailers down with it, after saying its profit fell by half in the latest quarter


Wait wait wait, AggieHank said Target was doing just fine with all their pride and trans for kids bull shite.


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141
Loup
LSU Fan
Ferriday
Member since Apr 2019
6911 posts

quote:

renewed fears that inflation is battering U.S. companies.



wait how can this be I thought that corporate greed was responsible for inflation?


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60
frequent flyer
LSU Fan
USA
Member since Jul 2021
1453 posts

quote:

It is almost like people are buying things online more and more....changing technology has simply moved the market from in person shopping to ordering for delivery. It is what it is.



It's more than just a bricks and mortar retail thing. Read the article.





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80
beerJeep
LSU Fan
Louisiana
Member since Nov 2016
30852 posts

quote:

It is almost like people are buying things online more and more....changing technology has simply moved the market from in person shopping to ordering for delivery. It is what it is.


It’s almost like…. Those same brick and mortar stores also have online sales.


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