Target, tech stocks lead Dow plunge of over 550 on Tuesday

Target, tech stocks lead Dow plunge of over 550 on Tuesday
CBS News video

[Ed. – ABC speaks of concerns about retail, although we’ve also been hearing that retailers anticipate a big holiday season this year.  Not sure the concern is really ALL retail.]

The Dow Jones plunged more than 551 points on Tuesday, dragged down by disappointing Target news and concerns about the retail sector in general ahead of the pivotal holiday season.

Tuesday’s slide compounded Monday’s losses on the Dow, resulting in a two-day losing streak of about 950 points, or 4 percent. Stocks fell 2.2 percent on the Dow on Tuesday alone. …

Target stock tumbled 11 percent after reporting weaker-than-expected earnings for the third quarter. The news spooked investors and, combined with disappointing earnings from Victoria’s Secret parent company L Brands and Kohl’s, provoked worry just ahead of Black Friday.

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