New York CNN —
US stocks fell Thursday after the world’s largest retailer warned that 2025 would be a rollercoaster ride and said it expected sales to slow this year amid fears that consumers are tapped out.
The sour forecast from Walmart (WMT) dragged down the Dow by more than 600 points, or 1.5%, and Walmart stock dropped 7%. Stocks fell on investors’ fears that consumer spending, which makes up two-thirds of the economy, would slow as shoppers pull back in the face of even higher prices. The S&P 500 and Nasdaq Composite were both 0.9% lower.
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