Walmart on Thursday forecast sales and profit for the current year below Wall Street estimates, citing the need for caution in navigating an uncertain geopolitical landscape.

Stocks tumbled from all-time highs Thursday in the wake of Walmart projecting a lower-than-expected sales outlook. The Dow Jones Industrial Average fell 450 points, or 1%. The S&P 500 declined 0.4%. The tech-heavy Nasdaq lost 0.5%. Bank stocks also fell significantly, with JPMorgan Chase and Goldman Sachs also closing down about 4%.

The company’s earnings forecast for the fiscal year fell below analysts’ expectations. Walmart on Thursday forecast sales and profit for the fiscal year ending January 2026 below Wall Street estimates,

NEW YORK — A sharp slide for Walmart on Thursday helped pull Wall Street off of its record. The Standard & Poor’s 500 slipped 0.4% for its first drop after setting all-time highs in each of the last two days. The Dow Jones industrial average lost 1%, and the Nasdaq composite sank 0.5%.

Wall Street is retreating from its record as a slide for Walmart weighs on U.S. stock indexes. The S&P 500 fell 0.9% Thursday after setting all-time highs in each of