Business
Walmart hit by slowest U.S. sales growth in 6 years, $81.2 billion in market value wiped out
Walmart shares tumbled on worries about slowing growth in its core U.S. retail business, wiping out about $81.2 billion in market value in a day. The stock fell about 9 percent intraday. Revenue and adjusted earnings beat expectations, but U.S. comparable sales excluding fuel rose only 2.6 percent, below forecasts. Walmart issued third-quarter guidance below estimates, while raising its full-year outlook.
