Walmart and Target shed $65 billion in value after reporting earnings
In this article:
Yahoo Finance Live's Brian Sozzi breaks down the stat of the day.
Video Transcript
BRIAN SOZZI: All right, the market has severely penalized shares of Target and Walmart for their surprisingly ugly earnings misses this week. Combined, the two discount retailers have shed more than $65 billion in market cap in the past two days in reaction to their earnings and outlooks. That $65 billion market cap loss is about 11 times the market cap of Macy's-- dot, dot, dot-- for now until it reports its own earnings.
