Wall Street is giving the biggest names in the real economy punishments the likes of which have not been seen since the crash of 1987. Retail leaders Walmart, Target, Costco, Kohl's and Amazon have seen their prices plunge in a few hours from 15 to 25%.
These companies, which are also the largest private employers in the United States, have all to varying degrees shocked their shareholders by informing them of changes in consumer behavior that are seriously adverse to their sales.
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In response to price increases, particularly for gasoline, Americans suddenly decided to limit their spending on goods.
Airlines, restaurants and hotels are the winners of shifting budgets to services.
After a decline in December, we observe that from January to March the consumer spending of Americans, all categories combined, resumed their rise, boosted by full employment and the use of savings...
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