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After technology, it was the turn of defensive stocks, especially those of the distribution sector, to take a hit. Walmart and Target, the two American giants of the distribution sector, have severely devalued after unveiling weaker-than-expected quarterly results, hampered by the rise in costs and wages.
Inflation has reached record levels: over one year, food prices have risen from 8.8% to 9.2% in the US, and gasoline prices by 48%. And while Walmart is announcing massive investments in the metaverse, we wonder: what is the point of a virtual distribution world, when physical distribution is struggling so much?
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