Home Depot, Best Buy Stocks Suffer From Amazon Effect

Home Depot Inc.'s stock tumbled 4.2% in morning trade Thursday toward a three-month low, enough to be the Dow Jones Industrial Average's biggest loser, in the wake of Sears Holdings Corp.'s announcement that it will sell appliances through Amazon.com Inc. . Appliances have been among the best performing categories for Home Depot. The stock's selloff was the main reason for Dow's price decline. Shares of fellow home improvement retailer Lowe's Companies shed 4.6% to a five-month low. Shares of Best Buy Co. Inc. , which has also benefited from strong appliance sales, slid 3.9%. Appliance maker Whirlpool Corp. dropped 4.7%. Meanwhile, Sears's stock shot up 19%, while shares of fellow department store chain J.C. Penney Co. Inc. gained 1.4%.