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Writer's pictureRobert Ver

Wall Street shares slide after Home Depot report


Retailer Home Depot and US retail sales data weighed heavily on US stocks on Tuesday, sending the Dow Jones down 224 points, or 0.7%. Although retail sales rose by 0.4% in April, they were below the expected level, indicating an unsatisfactory economic situation for consumers. Retailer Home Depot released a less successful sales forecast for this year, leaving the company and other retailers such as Lowe's Companies Inc. and Walmart Inc. also declined. The market is also worried about talks in Washington on the debt ceiling, and investors expect the Federal Reserve to put a hold on interest rate hikes in June. In addition, shares of Capital One Financial Corporation rose after Berkshire Hathaway disclosed its stake in the company, while shares of Horizon Therapeutics PLC fell on expectations that the FTC's acquisition of Amgen would be blocked. Shares of Tesla Inc. rose after reports that the George Soros Foundation no longer owns stakes in the company. Against crude oil, WTI and Brent futures rose marginally, while gold declined slightly.

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Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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