By Lucy Bayly
The stock market slid dramatically on Tuesday after a slew
of disappointing corporate earnings dragged down the Dow Jones
Industrial Average and the S&P 500, erasing all gains for 2018. The
Dow fell by 648 points at its session low, and closed at 24,465.
It's the worst Thanksgiving week for the Dow and the S&P since 2011, according to Dow Jones data.
Retail
earnings released Tuesday hit the market hard, with Target shares
falling as much as 15 percent on investor concern that the chain had cut
its margins too tightly to remain competitive in the holiday season.
Lowe's
also disappointed, reporting lower-than-expected same-store sales,
coupled with an announcement that it is closing all stores in Mexico.
Shares fell 3.6 percent and rival Home Depot also sank 2 percent.
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Source: NBC News
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