The Dow has been in the news quite a bit recently. Yesterday marked a not so hot day for the market as numbers plunged, following a six-day winning streak. To be exact, the Dow saw a decline that resulted in it being down over 250 points. The main cause of this is due to a notoriously poor day for the retail dynamo, Walmart.
Walmart’s stock (WMT) is down over 10 percent, marking the worst day for them since January 1988, that’s over 30 years if you’re keeping count. At the end of the day, they were trading at $94.11 after sitting comfortably around $102 just at the end of last week. It is being noted that their online sales were down during holiday season after having furious competition from more and more companies, including Amazon. Amazon (AMZN) on the other hand was UP 1.4% after the notoriously disastrous day.
The markets have seen a lot of change recently considering they fell over 10 percent after their high on January 26th. Luckily, there was a quick rebound last week that generated their best week-to-week gain in over five years.
In the grand scheme of it all, this shouldn’t be too much of a concern. While today might mark a rather large negative, things should sort themselves out sooner rather than later. Numbers were looking positive after a negative turn not long ago and it wouldn’t be surprising to see another uptick in the next week or two.
Sources: money.cnn.com, finance.yahoo.com