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US stocks slide as tech selloff and weak retail earnings offset the lowest jobless-claims reading in 50 years

10 days ago   |   By Business Insider

Andrew Burton/Getty Images
Stocks fell Wednesday ahead of the Thanksgiving Day holiday as Treasury yields continued to march higher.
Nordstrom and Gap shares tumbled after third-quarter earnings misses.
Weekly jobless claims of 199,000 hit the lowest level since 1969.
US stocks fell Wednesday as investors headed into the Thanksgiving holiday showing concern about inflation and financial results from retailers. All three of Wall Street's benchmarks moved lower, led by the tech-heavy Nasdaq Composite. Nordstrom and Gap shares each fell sharply after missing third-quarter earnings...
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Nordstrom dives 28% as higher labor costs and low inventory at Nordstrom Rack lead to quarterly earnings miss

10 days ago   |   By Business Insider

Nordstrom shoppers in Chicago. Scott Olson/Getty Images
Nordstrom stock fell sharply Wednesday after third-quarter earnings fell short of Wall Street's view.
Earnings of $0.39 a share were well below the $0.57 a share analysts anticipated.
Sales were ahead of Wall Street's targets but the company said it needs to improve profitability and market share.
Nordstrom stock tumbled Wednesday after third-quarter earnings missed expectations as the upscale retailer struggled with rising labor costs and soft inventory levels at its Nordstrom Rack unit. Late Tuesday, the company posted earnings of...
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