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Today in CNBC, Target warned investors Tuesday that as profits will take a short-term hit

as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of inventory.

I think the shares feel like 7% pre-market.

I wanted to look at how the other retailers are doing.

So Target is now down 44% from the highs.

Best buys down 44% as well.

Amazon's down 35%.

Even Costco and Walmart are down 24%.

Retailers are all getting smacked pretty good here.

When you hear this, it's such a weird, we're going to talk about the good news bad news up today,

but is this good news for inflation or is this bad news for the economy?

That Target has too much inventory.

There was a story on the news today saying the same thing with like Gap and Banana Republic

and all these types of retailers where they're going to have to just do huge sales.

Is this good news or bad news?

I don't understand because sales at Target is going to ease inflationary pressures.

Is that what they're saying?

Well, I'm saying one of the reasons that inflation was high is because we're having supply chain issues.

And it seems like that is easing a little.

So is that the kind of thing that, well, it's good news for inflation,

but it's bad news for the economy because people aren't spending as much on goods.

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