3 Home-Goods Retail Stocks That Are Crashing Today
Shares of Wayfair (NYSE: W), Bed Bath & Beyond (NASDAQ: BBBY), and RH (NYSE: RH) were down sharply Wednesday as the past week's market rally came to an abrupt end to start the second quarter. At this writing, the S&P 500 index, a good proxy for the overall U.S. stock market, is down 4.1% on news that manufacturing contracted more quickly than expected in the first quarter, and economic indicators point toward a contraction in April that could be the sharpest in American history.
As a result, retailers that focus on nonessentials are taking a beating, as investors lower their already-low expectations for how these companies will perform in the weeks and months ahead. Here's how our three names above are faring today:
As of 2:55 PM EDT. Source: Yahoo! Finance.
Source Fool.com
