U.S. stocks snapped a six-day winning streak yesterday, with the Dow and S&P 500 both dropping by about 1 percent. The biggest culprit: The world's biggest retailer, Walmart.
The retail giant's stock notched the worst dollar decline in its history, after it reported its first earnings miss in ten quarters. Walmart's adjusted per-share earnings came in at $1.33, below the $1.37 consensus of analysts polled by FactSet.
Shares of Walmart lost $10.67 on the day. The stock price lost 10.2 percent of its value. That percentage decline represented the steepest one-day drop for Walmart since January 8, 1988, when it dropped by 10.3 percent.
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