Dow Plunges as Retail Earnings Disappoint: Walmart, Home Depot, and 3 Stocks to Watch Heading into Tuesday

The Dow Jones Industrial Average dropped by more than 650 points on Monday due to disappointing retail earnings.

Leading the decline were Walmart and Home Depot, both of which reported lower-than-expected earnings. Walmart reported a 6.6% decline in same-store sales, while Home Depot reported a 1.2% decline. This news sent their stocks down more than 4% each in premarket trading.

Other stocks making notable premarket moves included Vir Biotechnology, which saw its stock rise more than 10%, and Coinbase Global, which saw its stock drop nearly 6%.

Overall, the S&P 500 and Nasdaq were both down in midday trading, with the S&P 500 dropping 1.4% and the Nasdaq dropping 1.2%.

The declines come as investors remain cautious about the economic recovery, with many businesses still struggling to stay afloat. The news from Walmart and Home Depot adds to the worries, as their earnings suggest that the retail sector is still feeling the effects of the pandemic.

It remains to be seen whether the market can recover from this latest setback, but investors will be watching closely to see how stocks react to Tuesday’s trading session.