US stocks continued their decline this week as results from two key grocery retailers, Walmart and Target, spooked investors, as inflationary pressures impacted their results, raising concerns that pricing pressures are taking their toll on the strength of the economy. The US stock market fell 4% on Wednesday, its biggest one-day loss since June of 2020. Unless there is a sharp bounce today, the US market will not have fallen for such a sustained period since 2001 when the dotcom bubble burst. However, outside of the US, where valuations are not so stretched, the picture was not so gloomy with many regions recording gains in equity markets over the week.
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