Wall Street

Wall St set to open lower as Target’s margin warning fuels demand worries

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Reuters

By Devik Jain and Susan Mathew (Reuters) – U.S. stock indexes were set for a lower open on Tuesday, after Target Corp’s quarterly margin forecast cut raised worries about slowing demand in an inflationary environment and dragged down retail shares. Shares of Target slid 7.6% in premarket trading as the big-box retailer said it would have to offer deeper discounts and cut back on stocking higher-margin discretionary items. Shares of rival Walmart Inc fell 3%, while others including Nordstrom Inc, Macy’s Inc, Dollar General, Costco and Best Buy Co Inc, dropped between 1.5% and 3.5%. “When you ge…

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