U.S. markets closed
  • S&P 500

    4,026.12
    -1.14 (-0.03%)
     
  • Dow 30

    34,347.03
    +152.97 (+0.45%)
     
  • Nasdaq

    11,226.36
    -58.96 (-0.52%)
     
  • Russell 2000

    1,869.19
    +5.67 (+0.30%)
     
  • Crude Oil

    76.28
    -1.66 (-2.13%)
     
  • Gold

    1,754.00
    +8.40 (+0.48%)
     
  • Silver

    21.43
    +0.06 (+0.29%)
     
  • EUR/USD

    1.0405
    -0.0008 (-0.07%)
     
  • 10-Yr Bond

    3.6910
    -0.0150 (-0.40%)
     
  • GBP/USD

    1.2091
    -0.0023 (-0.19%)
     
  • USD/JPY

    139.1000
    +0.5100 (+0.37%)
     
  • BTC-USD

    16,559.44
    -76.83 (-0.46%)
     
  • CMC Crypto 200

    386.97
    +4.32 (+1.13%)
     
  • FTSE 100

    7,486.67
    +20.07 (+0.27%)
     
  • Nikkei 225

    28,283.03
    -100.06 (-0.35%)
     

Ocado Shares Plunge as British Online Grocer Grapples with Inflation

Ocado Shares Plunge as British Online Grocer Grapples with Inflation

Shares of British online grocer Ocado are sinking, plunging almost 11% in morning trading Tuesday after the company warned that it expects to see a decline in full-year sales as _**inflation hits consumers' spending ability**_. Ocado is the brainchild of three former Goldman Sachs bankers. The company has a [_**two-pronged model**_](https://www.wsj.com/articles/ocado-looks-overseas-to-drive-profit-1435672167?mod=wsj_nview_latest): it _**sells groceries directly**_, much like many of its online r