Home Depot's Biggest Stock Price Plunge In 17 Years Shaves $7.5 Billion Off Market Cap

By Tomi Kilgore Markets MarketWatch Pulse

Shares of Home Depot Inc. suffered their biggest price plunge in nearly 17 years, shaving off about $7.5 billion in market capitalization, amid fears over the Amazon effect after Sears Holdings Corp. launched the sale of Kenmore appliances through Amazon.com Inc. . The stock tumbled $6.27, or 4.1%, to $147.03, the lowest close since April 13, 2017. It was the second-biggest price decline since the home improvement retailer's initial public offering in September 1981, behind the biggest drop of $14.06, or 29%, on Oct. 12, 2000. The stock can also be blamed for the Dow Jones Industrial Average's decline, as it cut 43 points off the price of the Dow, which closed down 29 points.

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