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

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