Walmart shares fall upon disappointing forecast, fueling US spending worries

Walmart on Thursday forecast sales and profit for its latest fiscal year below Wall Street estimates, suggesting the world’s largest retailer expects inflation-weary consumers to pull back after several quarters of solid growth.Walmart shares, which had risen about 72% in 2024 and hit a record high of $105 last week, were down 6% in early trading. Shares of its rival retailer Target were down 1.6%, with Amazon 0.9% lower.The news dragged down stock markets with all the major US indices falling in morning tr ...