U.S. stocks open lower as Wal-Mart profit warning spooks investors

U.S. stocks opened lower on Tuesday after Wal-Mart WMT, -8.90% cut its profit outlook and blamed food inflation for forcing American consumers to curtail spending on other items. The S&P 500 SPX, -0.81% retreated 16 points, or 0.4%, to 3,951. The Dow Jones Industrial Average DJIA, -0.35% shed 97 points, or 0.3%, to 3,189. The Nasdaq Composite COMP, -1.42% dropped 94 points, or 0.8%, to 11,685. Wal-Mart shares fell 8.3%, or $11, to $121.