Target, Walmart and CVS shut stores amid protests.
A number of retailers, still reeling from the economic impact of the coronavirus shutdown, have temporarily closed some stores as protests and looting spread across the United States in the wake of the death of George Floyd.
Target is temporarily closing or shortening the hours of about 200 stores, a spokesman, Joshua Thomas, confirmed on Sunday morning. The Target store on Lake Street in Minneapolis, the location nearest to where Mr. Floyd died, was badly damaged and looted last week. Images of the battered store have featured prominently in news coverage of the unrest in Minneapolis, where Target has its headquarters.
Target has nearly 1,900 stores in the United States. The decisions to temporarily shutter or shorten store hours at roughly 200 locations, Mr. Thomas said, were being made “out of an abundance of caution” to ensure “the safety of our teams.”
Walmart and CVS also shuttered a number of stores. Amazon said it would scale back deliveries in some cities. Adidas is temporarily closing all of its U.S. stores, The Wall Street Journal reported.
U.S. stocks wavered while global markets rose on Monday, with investors watching for signs of increasing tensions between the United States and China.
The S&P 500 drifted between losses and gains in early trading after a weekend of violence and unrest in the United States after the death of George Floyd. Shares of retailers who said they were temporarily closing some stores in response to the turmoil took a hit. Target was down about 2 percent, while Walmart dipped nearly 1 percent.
Stocks in London and Paris were about 1 percent higher in midday trading Monday, though markets in Germany and a number of other countries were closed for a holiday. Asian markets rose strongly, paced by an increase of more than 3 percent in Hong Kong and more than 2 percent in mainland China shares.
Investors in Asia and Europe were cheered by results from surveys of purchasing managers around the world, which showed uneven but steady progress in recovering from the coronavirus outbreak. They also saw President Trump’s response on Friday to China’s efforts to take a heavier hand in Hong Kong’s affairs as less severe than it could have been. Mr. Trump said the United States would begin rolling back the special trade and financial status it grants to the former British colony but left many of the details unsaid.
The S&P 500 rallied on Friday after Mr. Trump’s address on China, leaving the benchmark stock index up more than 4.5 percent for the month. Combined with a 12.7 percent gain in April, it was the best two-month jump for the markets in 11 years, a rise that reflects investor focus on the return of economic activity in regions that were locked down to fight the coronavirus.
It has been one week since the death of George Floyd, in Minneapolis, which sparked nationwide unrest. Business leaders, like many others, spoke out about this and other cases…
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