Walmart shares slide as U.S. sales hit by falling drug prices

Walmart's shares took a dive as its comparable U.S. sales growth dropped to 2.6%, the lowest in over six years, largely due to falling drug prices. This marks a significant slowdown in the company's performance, raising concerns about its competitive edge against rivals like Amazon and Target. The dip in drug prices suggests broader challenges in the retail sector, possibly signaling a shift in consumer spending habits or increased competition in the pharmacy market. This downturn could have ripple effects on Walmart's overall strategy and its ability to maintain market share.