Morning Business Report: Walmart denies viral rumors claiming store closures tied to SNAP funding concerns

Walmart is pushing back against viral social media rumors.

(LILAMAX)- Walmart is pushing back against viral social media rumors falsely claiming the retailer plans to close stores nationwide amid looting threats tied to a possible lapse in federal food assistance funding.

The company confirmed the rumors are false, saying stores will remain open for business as usual. One TikTok video that gained more than 570,000 views and 40,000 likes falsely alleged that Walmart would close all locations on Nov. 1 and shift to online-only orders due to fears of unrest if SNAP benefits were paused.

Meanwhile, the nation’s largest airlines are adding to the pressure on Washington to end the government shutdown. The CEOs of Delta and United Airlines urged lawmakers to reopen the government after U.S. air traffic controllers missed their first full paychecks on Tuesday, leading to spotty flight delays across the country.

On Wall Street, stocks closed lower Thursday, with Meta and Microsoft leading the declines. Investors are increasingly concerned about mounting costs in AI investment and the uncertain timeline for returns.

In other economic developments, businesses across the country are struggling with a shortage of pennies following President Trump’s decision to halt production of the one-cent coin earlier this year. Some banks have begun rationing pennies, while stores are hosting exchange events offering gift cards for customers who bring in spare change.

Finally, the Food and Drug Administration announced plans to ease approval requirements for low-cost copycat medications, often called biosimilars, in an effort to lower drug prices. The agency said future developers may no longer need to conduct lengthy and costly clinical trials if effectiveness can be proven through other methods.