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Retail, tech stocks lead slide on Wall Street; Dow falls nearly 500 points

The S&P index recorded 20 new 52-week highs and 41 new lows, while the Nasdaq recorded six new highs and 230 new lows


The S&P 500 hit a three-week low on Tuesday, as weak earnings from retailers including Target and Kohl's as well as a fall in energy shares added to worries for Wall Street, which is still reeling from a technology selloff. Target Corp shares slumped 10.65 per cent after the retailer's third-quarter profit missed analysts' estimates as investments in its online business, higher wages and price cuts hurt margins. Department store operator Kohl's Corp shed 9.46 per cent after its full-year profit forecast fell below expectations. Warnings from retailers ...

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First Published: Tue, November 20 2018. 23:18 IST