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Wall Street dips as Amazon-Whole Foods deal roils retail

Reuters  |  NEW YORK 

By Lewis KrauskopfNEW YORK (Reuters) - U.S. stocks mostly edged lower on Friday as Amazon.com's $13.7 billion deal to buy upscale grocer Whole Foods roiled the retail sector and wounded shares of an array of companies including Wal-Mart and Target.The deal by Amazon, a proven retail disruptor, marked a major step by the internet retailer into the brick-and-mortar retail sector.Wal-Mart shares sank 5 percent, weighing the most on the S&P 500 and the Dow. Shares of Target , CVS Health and Costco fell between 4 percent and 7 percent."It's disrupting a number of industries here, and that's ...

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First Published: Sat, June 17 2017. 00:28 IST
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