Wall Street

Wall St set to extend selloff as growth fears mount

Published by
Reuters

By Devik Jain and Amruta Khandekar (Reuters) -U.S. stock indexes were set to open sharply lower on Thursday after the S&P 500’s biggest rout this year as investors fretted over the impact of surging inflation on the economy and corporate earnings. Kohl’s Corp shares tumbled 7.7% in premarket trading after the department store chain cut its full-year profit forecast, the latest U.S. retailer to flag a hit from four-decades high inflation. On Wednesday, the S&P 500 index and the Nasdaq closed down more than 4% as growth stocks sank and dismal results from retailer Target Corp underscored how inf…

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