Go ahead and call it the " retail apocalypse ." After back-to-back miserable earnings reports from first Walmart on Tuesday and now Target on Wednesday, shares of other retail stocks all across America are plunging this morning.
It seems everyone from teen and young adults clothier American Eagle Outfitters (NYSE: AEO) to GameStop (NYSE: GME) and Best Buy (NYSE: BBY) -- two stocks that cater to the videogamer set -- are in a tailspin today. As of 11:20 a.m. ET, American Eagle stock is losing 6.2%, GameStop's down 7.2%, and Best Buy is leading the retail sector lower with a 10% loss.
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For further details see:
Why American Eagle, GameStop, and Best Buy Crashed on Wednesday