BUZZ-US retail stocks tumble amid rising recession fears

Reuters04-07
BUZZ-US retail stocks tumble amid rising recession fears

** Shares of major U.S. retailers fall in premarket trading amid fears of a recession following U.S. President Donald Trump's sweeping tariffs announced last week

** Futures tied to the S&P 500 fell further on Monday and were down more than 20% from their all-time highs, putting the benchmark on course to confirm a bear market .N

** Retail giant Walmart WMT.N down 3%, big-box retailer Target TGT.N falls 3.5% and e-commerce giant Amazon.com AMZN.O drop 4.2%

** Discount store Dollar Tree DLTR.O shares fall 1.5% and electronics retailer Best Buy BBY.N drops 3.2%

** Home improvement chains Home Depot HD.N and Lowe's LOW.N down between 2.4% and 3.5%

** Macy's M.N falls 7.7% and Kohl's drops KSS.N 6.7%

** Up to last close, S&P 500 Consumer Discretionary Distribution & Retail Index .SPXRT had fallen over 16% YTD

(Reporting by Ananya Mariam Rajesh in Bengaluru)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment