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Wall Street down as retailers stoke inflation fears

Published by
Reuters

By David French and Ambar Warrick NEW YORK (Reuters) – Wall Street benchmarks closed down on Wednesday on inflation fears and supply chain concerns, with investors betting the Federal Reserve will raise interest rates sooner than expected to tame rising prices. Target Corp was the latest big-name retailer to report positive results, upping its annual forecasts and beating profit expectations, citing an early start to holiday shopping. But shares of the firm fell, tracking declines in those of peer Walmart on Tuesday, as both retailers flagged a hit to their third-quarter margins from supply ch…

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