Walmart Profit Warning Weighs on Stocks U.S. stocks fell Tuesday after Walmart cut its earnings forecast, sending other retail shares lower and adding to concern that consumer spending might not be strong enough to keep the U.S. out of a recession. The Dow Jones Industrials dwindled 201.1 points midday Tuesday at 31,788.94. The SP 500 gave back 44.48 points to 3,922.36. The NASDAQ tumbled 207.94 points, or 1.7%, to 11,574.73. Walmart cut its quarterly and full-year profit estimates because of rising food inflation. This alarmed investors who deliberated the implications for other retail stocks. The big-box retailer said higher prices are spurring consumers to pull back on general merchandise spending, particularly in apparel. Walmart plunged 8% Tuesday and dragged other retailers with it. Kohl’s dropped 7% and Target skidded 4%. Apparel companies were hit hard, with Nordstrom down 6% and Macy’s and Ross lower by 5% each. PVH lost about 4% and TJX Companies slid more than 3%. Inflation has also changed the cost of production for companies like General Motors.