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Target, Kohl’s & More Retail Stocks Hammered in Stock Market Sell-Off

Retailers’ plans to slide into a robust holiday period have hit a snag — at least as far as investors are concerned.
Shares for Target Corp. and Kohls Corp. are well into the red today after the former’s third-quarter profits fell 3 cents shy of estimates while the latter’s Q3 actually topped analysts’ expectations across the board. (As of 11:10 a.m. ET, Target’s stock in the hole more than 9 percent to $70.17 and Kohl’s was down more than 8 percent to $65.26.)
Some of Target’s sell-off is likely explained by its earnings miss and seemingly elevated inventories but both firms are likely feeling the impact of market-wide losses as the Dow Jones Industrial Average, S&P 500 and Nasdaq all slid today to reverse 2018 gains.
The Dow had fell as much as 500 points in early morning trading as investors offloaded mostly tech stock — with Apple and Boeing, in particular, seeing notable weakness. Facebook — which grappled with privacy issues this year — Google parent firm Alphabet, Amazon and Netflix also suffered losses today.
As of 11:10 a.m. the Dow remained in more than 360 points, or 15 percent, to 26,654.98. The Nasdaq was in the hole less than 1 percent to

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Via:: https://footwearnews.com/2018/business/retail/stock-market-crash-2018-sell-off-retail-target-1202709005/