Shares of Home Depot Inc. HD, -4.39% sank 4.6% to pace all of the Dow Jones Industrial Average’s DJIA, -0.79% decliners, putting them on track for the biggest one-day drop since it fell 5.0% on Nov. 9, 2020, after the home improvement retailer reported fiscal second-quarter earnings that beat expectations, but missed on same-store sales and saw gross margins decline. Investors shouldn’t be too surprised at the selloff, however, as the stock is set to lose ground on the day that the past eight quarterly earnings were reported. The average decline after the past seven earnings reports was 2.4%, with a range of down 1% to down 5.4%. The current price decline of $16.01 was shaving about 105 points off the Dow’s price, while the Dow was down 269 points, or 0.8%.
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