Wal-Mart stock plunges on new US job report
Wal-Marts stock plunged on the new US jobs report, and its shares have already lost more than 10% of their value.
The stock plunged more than 7% in premarket trade, to $14.96, after the US Bureau of Labor Statistics released a report on Wednesday that showed the number of US jobs fell by 215,000 in November.
The report showed that the number fell to 185,000, a 0.1% drop, in November, the first time since 2007 that US jobs have declined.
The company’s stock was down almost 10% from its opening price on Thursday, when it was worth $16.73.
The stock fell as much as 15% in the day’s trading, but was still higher than the $15.49 it was trading for on Friday.
The US economy has been slowing since last year, and the jobs numbers were the biggest signal yet of the strength of the recovery.
The news was welcomed by investors, who are generally bullish on the stock.
Shares of Wal-mart, the world’s biggest retailer, are up nearly 10% in recent months, while the Nasdaq index of companies in the tech industry has surged by nearly 20% this year.
Wal-Mart has been a big beneficiary of the US recovery.
In the past year, it has shed millions of jobs and has added millions more.
The jobs report was a sign that the US economy is back to its growth and that the country is on track to add nearly 200 million jobs in 2020.
It is the biggest monthly drop in US employment since the recession began.
Walmart is one of the worlds largest employers, with about 200,000 workers in its U.S. stores, where many of its products are sold.
WalMart is now one of two big employers of women in the U.K. and Ireland.
Wal-marts have also been hit hard by the global financial crisis, which has wiped out billions of dollars in profits and pushed the company’s revenue to near-record lows.
The company has also been under pressure to pay higher wages, particularly in the US.
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