Black Day: The retail sector smashed Wall Street
After Walmart released a bad report and crashed it was the turn of another giant, Target, which lost 25 percent after missing forecasts.
Nasdaq plunged 5 percent, sharp declines to technology giants
Wednesday, May 18, 2022, 11:19 p.m.
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On Monday, with the opening of the trading week, there were gains on Wall Street, and the American capital market hoped that the negative momentum that has plagued the capital market in recent weeks will change.
How wrong they were.
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Who will stop this fall? (Photo: GettyImages, Michael M. Santiago)
Tuesday opened with declines that intensified as trading continued.
Nasdaq plunged nearly 5 percent, the Dow Jones industrial average lost more than 3.5 percent and the S&P index fell more than 4 percent.
Technology stocks continue to lose ground, with Amazon plunging 7 percent, Meta (Facebook) more than 5 percent, Netflix 7 percent to its lowest level since May 2017, Apple down 5.5 percent and Microsoft down 4.5 percent.
But the stocks that are currently concentrating most of interest in the US are not in the technology sector but in the retail sector
. Names in the market and no one knows where it will stop.