Wall Street stocks fell in morning trading on Tuesday as rising interest rates and inflation added to concerns about economic growth.

The S&P 500 fell 0.2% to 4097.07 as of 10:20 a.m. Eastern Time zone. The Dow Jones Industrial Average fell 82 points, or 0.3%, to 32,830. The Nasdaq was unchanged.

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Retailers did much of the losses for the broader market. Target fell 2.9% after saying it’s cancelling orders from suppliers and slashing prices. The move comes as consumers shift spending from things like clothing and electronics to more services, like travel and dining out as pandemic fears decrease.

Technology and industrial companies also witness heavy losses. FedEx declined 2% and chipmaker Nvidia fell 1.3%.

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Bond yields fell after Monday’s jump, which was fueled by persistent anxiety over a potential US economic slowdown. The yield on the 10-year Treasury slipped to 2.98% from 3.03 late Monday.

Several stocks were moving on a mix of earnings and deal news. Kohl’s surged 9.9% after the retailer said it’s in advanced talks to sell itself to Vitamin Shoppe owner Franchise Group in a deal worth about $8 billion. Jam maker JM Smucker added 3.6% after reporting better-than-expected financial results.

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Businesses are increasing prices on everything from food to clothing to offset inflation’s impact on their costs. Those higher prices have squeezed consumers, who are cutting their spending on high-prices items as they spend more on necessities like food.

Russia-Ukraine has raised food and energy prices across the globe. Record-high gasoline prices have put additional pressure on consumers. US crude oil prices are up 59% this year. The World Bank has sharply lowered its outlook for the global economy, pointing to Russia’s war and concerns about the potential return of “stagflation,” a toxic mix of high inflation and subdued growth unseen for more than four decades.

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The Federal Reserve has shifted to aggressively policy by raising interest rates to slow economic growth and temper the impact of inflation. It has raised concerns that the Fed could go too far too quickly and possibly lead the US economy into a recession. Concerns about the aggressive rate hikes and inflation have weighed on markets also.