By Tuba Ongun
US stock markets closed lower Thursday following a weaker-than-expected sales forecast from Walmart, which fueled worries about consumer spending and the broader economy's resilience.
The S&P 500 declined 0.43%, or 26.63 points, to finish the day at 6,117.52.
The Nasdaq Composite fell 0.47%, or 93.89 points, to 19,962.36, and the Dow Jones Industrial Average slid by 1.01%, or 450.94 points, to end the day at 44,176.65.
Walmart's stock tumbled over 6% after the retailer's sales projections for its 2026 fiscal year fell short of expectations, hinting that inflation-weary consumers may be showing less enthusiasm, potentially affecting the company's performance.
Retailers Target and Costco both saw their shares drop by roughly 2%, mirroring Walmart's decline, as concerns grew over the outlook for future earnings.