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Target results could signal 'start of a slowdown' -adviser

Reuters Videos
Updated

STORY: Wall Street tumbled on Wednesday, with Target losing a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices.

Target warned of a bigger margin hit on rising fuel and freight costs. Its shares fell over 25% and were tracking their worst day since the Black Monday crash on Oct. 19, 1987. Read full story

The retailer's results come a day after rival Walmart Inc trimmed its profit forecast.