Walmart’s second-quarter earnings missed estimates, causing shares to drop 4.5% to $97.93. It was the third-worst performer in the S&P 500, affecting the market broadly. The S&P 500 Consumer Staples Sector fell 1.2%, with companies like Costco and Target also experiencing declines.

The stock market has been jittery, with nine of 11 S&P 500 sectors lower and Consumer Staples leading the decline at 1.2%. Walmart’s miss was attributed to unexpected costs, signaling economic worries and potential tariff impacts from importing goods.

Despite the miss, Walmart raised financial guidance and mentioned that tariff impacts have been gradual. Job growth concerns and inflation signals are affecting markets, with rivals like Kroger also facing challenges. Walmart’s stock tumble reflects broader economic uncertainties in the market.

Read more at Yahoo Finance: Walmart’s miss pulls a major market segment lower