Stock markets sell off as inflation fears settle in - News Summed Up

Stock markets sell off as inflation fears settle in


Stock markets were a sea of red on Wednesday as financial results from major retailers suggested they're having a hard time dealing with stubbornly high inflation. Tuesday's sell-off was also the biggest one-day plunge in Walmart shares since 1987. That gloom coming from two cost-conscious retailers sparked investor fears that if they are having problems navigating high inflation, many others must be, too. Apple shares lost six per cent to trade at their lowest level since October. Amazon shares lost seven per cent and the shares are now trading where they were in April 2020.


Source: CBC News May 19, 2022 00:32 UTC



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