Registering its worst fall in the past 35 years, Target Corporation (NYSE: TGT) declined almost 25% to close at $161.61 on Wednesday. The dip in Target's stock price also had adverse impacts on the broader market sentiment. The stock is currently down another 3.6% today. The reaction arose over Target's earnings disaster in the first quarter of Fiscal 2022 (ended April 30, 2022) and concerns over the health of retailers in the country. A couple of days back, another retail behemoth, Walmart Inc. (NYSE: WMT), delivered disappointing results, with an earnings miss of 12.2% in the first quarter of Fiscal 2023 (ended April 30, 2022).
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