Walmart Stock Suffers Biggest Crash in 35 Years
On Friday, October 16, 1987 -- the trading day just before "Black Monday" -- shares of superstore chain Walmart (NYSE: WMT) suffered their steepest one-day decline ever, falling 11.7% in a single day. So here's the good news: This week wasn't quite that bad.
It was bad enough, though. On Tuesday after reporting its fiscal first-quarter 2023 earnings, shares of the world's biggest retailer crashed 11.4%. And at first glance this seemed to happen for the most mundane of reasons -- Walmart "missed earnings."
Image source: Walmart.
Source Fool.com
