Walmart loses $22 billion in market cap, CEO says budget constrained American consumers are showing "stressed behaviours" and low confidence

Expecting similar results for Unilever, Coke, Pepsi, P&G, Target, Home Depot, Lowe's and other consumer discretionary companies

"Walmart’s market cap dropped by $22 billion after news broke Tuesday that consumer confidence in the U.S. plummeted to a 12-year low. CEO Doug McMillon had just said last month he’d noticed “stressed” behavior from consumers who were more budget-constrained."

[https://fortune.com/2025/03/26/walmart-ceo-doug-mcmillon-customers-stressed-valuation-stock-drops/](https://fortune.com/2025/03/26/walmart-ceo-doug-mcmillon-customers-stressed-valuation-stock-drops/)