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Inditex Slumps to Three-Year Low as Earnings Doubts Take Hold

General Economy As Spaniards Raise Toast To Recovery

Photographer: Pau Barrena/Bloomberg

Inditex SA tumbled in Madrid trading as JPMorgan cut its estimates and price target for the Zara owner, adding to jitters ahead of next month’s full-year results.

The stock fell as much as 7.1 percent, the steepest intraday drop since June 2016. At 25 euros, Inditex is at its lowest level in more than three years.