Shares of Walgreens Boots Alliance Inc. WBA, -9.34% tumbled 10.2% in morning trading Tuesday, enough to pace both the Dow Jones Industrial Average’s DJIA, +0.63% and the S&P 500’s SPX, +1.15% losers.
The stock’s selloff comes after the drugstore chain and health care services company’s reported fiscal third-quarter profit that missed expectations and slashed its full-year outlook. The stock was headed for the biggest one-day drop since it fell 11.0% on March 12, 2020, and for the lowest close since Sept. 3, 2010. The stock’s price decline of $3.32 is cutting 22 points off the price of the Dow, which is up 35 points, or 0.1%, while the S&P 500 SPX, +1.15% is up 0.2%.