Stocks falling on Wall Street as inflation anxiety persists
NEW YORK (AP) — Stocks are falling on Wall Street Tuesday as rising interest rates and inflation raise concerns about economic growth. The S&P 500 is down 0.2%, the Dow Jones Industrial Average off 0.3% and the Nasdaq flat as of 10:30 a.m.
Retailers, technology and industrial companies notched heavy losses. Target fell after it said it was cancelling orders and slashing prices to clear out inventory, moves that will hurt its profits. Jam maker J.M. Smucker jumped on solid quarterly earnings. Kohl’s jumped after the retailer said it is in advanced talks to sell the company. Treasury yields eased slightly.