R&I – txPAT ***
- US stocks plummeted on Wednesday after a Q1 earnings miss from Target shocked investors.
- Target stock fell 28% after the company said rising fuel, freight, and other input costs are hurting profit margins.
- While Target said profit margins are getting squeezed due to inflationary pressures, it believes the consumer remains on solid footing.
West Texas Intermediate crude oil fell as much as much as 5.20% to $106.55 per barrel. Brent crude, oil’s international benchmark, fell as much as 2.88% to $108.71.
Bitcoin fell 2.94% to $28,942. Ether prices fell 4.02% to $1,956.
Gold fell as much as 0.37% to $1,811.20 per ounce. The yield on the 10-year Treasury fell 8 basis points to 2.89%.
ConservativeChick