Dow’s retailer stocks are a 172-point drag, in wake of Target’s big earnings miss

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The Dow Jones Industrial Average’s DJIA, -2.51% three retailer components are accounting shaving about 172 points off the Dow’s price in midday trading Wednesday, in the wake of Target Corp.’s TGT, -25.53% disappointing earnings report. Shares of Walmart Inc. WMT, -6.24% shed 6.9% and of Walgreens Boots Alliance WBA, -7.34% fell 6.8% to pace the 28 of 30 Dow components that were losing ground, while Home Depot Inc.’s stock HD, -5.33% slid 4.7% to be the fourth-worst performer. But since the Dow is a price-weighted index, the Home Depot’s stock was the biggest drag, as it fell $13.98 to reduce the Dow’s price by about 92 points. Walmart’s stock fell $9.11 to shave about 60 points off the Dow, while Walgreens shares shed $3.05 to be a 20-point drag. Meanwhile, the Dow took a 785-point, or 2.4%, dive. The retailer weakness comes as Target’s stock plummeted 24.5%, putting it on track for the biggest one-day selloff in 35 years.

This article was originally published by Marketwatch.com. Read the original article here.

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