Why Target Stock Was Sliding Today
Shares of Target (NYSE: TGT) were pulling back today on a weak November retail sales report and as the Federal Reserve, Bank of England, and European Central Bank all raised interest rates, increasing the chances that the global economy will enter a recession.
Though there was no company-specific news out on Target, shares of the retailer reacted to the sell-off in the broad market, in particular the disappointing retail numbers.
As of 3:20 p.m. EST, the stock was down 3.6% compared to a 2.5% decline in the S&P 500.
Source Fool.com
