{"id":449348,"date":"2022-05-18T20:48:03","date_gmt":"2022-05-18T17:48:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-drops-1000-points-after-target-reports-weak-earnings\/"},"modified":"2022-05-18T20:48:03","modified_gmt":"2022-05-18T17:48:03","slug":"dow-drops-1000-points-after-target-reports-weak-earnings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-drops-1000-points-after-target-reports-weak-earnings\/","title":{"rendered":"#Dow drops 1,000 points after Target reports weak earnings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a286afa7a0cf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a286afa7a0cf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-drops-1000-points-after-target-reports-weak-earnings\/#%E2%80%9CDow_drops_1000_points_after_Target_reports_weak_earnings%E2%80%9D\" >&#8220;Dow drops 1,000 points after Target reports weak earnings&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDow_drops_1000_points_after_Target_reports_weak_earnings%E2%80%9D\"><\/span>&#8220;Dow drops 1,000 points after Target reports weak earnings&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The Dow plunged by more than 1,100 points, suffering it worst day since 2020, as big retailers reported their profits are getting crushed by inflationary pressures.<\/p>\n<p>The S&amp;P 500 fell by 4% on Wednesday and the Nasdaq shed nearly 5% as investors reacted to a weak first quarter earnings report by Target.<\/p>\n<p>The Dow Jones Industrial Average tumbled to  31,490.07 \u2014 off 1,164.52\u00a0points, or 3.6%, its worst percentage decline since June 11, 2020 and its lowest closing level since March 2021.<\/p>\n<p>Target\u2019s first-quarter profit halved and the company warned of a bigger margin hit on rising fuel and freight costs. Shares fell 25%, their worst day since the Black Monday crash on Oct. 19, 1987.\u00a0<\/p>\n<p>The retailer\u2019s results come a day after rival Walmart trimmed its profit forecast after blaming persistent supply-chain kinks and higher payroll costs for dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointing margins.<\/p>\n<p>Retailers had some of the biggest losses. Dollar Tree fell 14% and Dollar <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> slumped 11%. Best Buy fell 11% and Amazon declined 7.2%. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> stocks also fell broadly. Apple lost 5.6%.<\/p>\n<p>Blue-chip tech firms like Microsoft, Google parent Alphabet, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> parent Meta Platforms and Tesla fell between 3.9% and 7% after leading a sharp rebound in the previous session.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/stock-market-drop-03.jpg?w=1024\" alt=\"The investor sell off came after Target reported weaker-than-expected earnings results from the first quarter of fiscal year 2022.\" class=\"wp-image-22317484\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/stock-market-drop-03.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/stock-market-drop-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/stock-market-drop-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The investor sell off came after Target reported weaker-than-expected earnings results from the first quarter of fiscal year 2022.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Rising inflation, the conflict in Ukraine, prolonged supply chain snarls, pandemic-related lockdowns in China and prospects of aggressive policy tightening by central banks have weighed on the markets recently, stoking concerns about a global economic slowdown.<\/p>\n<p>Wells Fargo Investment Institute on Wednesday adjusted its economic expectations to make a mild US recession its base case for the end of 2022 and early 2023 based on economic data.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Federal Reserve Chair Jerome Powell vowed on Tuesday that the U.S central bank will raise rates as high as needed to kill a surge in inflation.<\/p>\n<p>Traders are pricing in 50 basis point interest rate hikes by the Fed in June and July.<\/p>\n<p>Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly.<\/p>\n<p>Worries persist about global growth as Russia\u2019s invasion of Ukraine puts even more pressure on prices for oil and food while lockdowns in China to stem COVID-19 cases worsens supply chain problems.<\/p>\n<p>The United Nations is significantly lowering its forecast for global economic growth this year from 4% to 3.1%. The downgrade is broad-based, which includes the world\u2019s largest economies such as the US, China and the European Union.<\/p>\n<p>\u201cA portion of the market is definitely focusing on a potential growth slowdown,\u201d said Zachary Hill, head of portfolio management at Horizon Investments.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/18\/dow-drops-900-points-after-target-reports-weak-earnings\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Dow drops 1,000 points after Target reports weak earnings&#8221; The Dow plunged by more than 1,100 points, suffering it worst day since 2020, as big retailers reported their profits are getting crushed by inflationary pressures. The S&amp;P 500 fell by 4% on Wednesday and the Nasdaq shed nearly 5% as investors reacted to a weak&#8230;<\/p>\n","protected":false},"author":1,"featured_media":449349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/stock-market-drop-01.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129343,2758,73977,72332,71089,70360,32332],"class_list":["post-449348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-18-22","tag-amazon","tag-dow-jones-industrial-average","tag-nasdaq","tag-target","tag-wall-street","tag-walmart"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=449348"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/449349"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=449348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=449348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=449348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}