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Wall Street falls as Walmart warning rattles retail stocks; GE jumps

Walmart cuts profit forecast, drags retailers; McDonald's up as sales and profit top estimates; GE jumps on higher profit, Coca-Cola up on forecast raise

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Reuters
US stock indexes fell on Tuesday after Walmart's profit warning heightened fears in the retail sector that consumers were cutting back on discretionary spending in the face of decades-high inflation.

Shares of Walmart Inc slumped 7.7%, while those of Target Corp and Amazon.com Inc fell over 4% each, with the online retail giant weighing the most on the Nasdaq index.

In a sign of rising pressure to shore up profit amid higher costs, Amazon said it would raise fees for delivery and streaming service Prime in Europe by up to 43% a year.

The S&P 500 consumer discretionary index slid 3.2%, leading sectoral

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