The consumer stalwarts that thrived throughout the pandemic-era bull market have finally buckled.
Target Corp. plunged the most since Black Monday in 1987, a day after Walmart Inc. suffered a similar fate, on signs that runaway inflation is hurting the US consumer and eroding profit margins. The selloff wiped out more than 7% from an index of retailers in the S&P 500, while the broader index sank 4% and back closer to a bear market.
