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Macy’s Stock Drops Another 7.6% as Company Is Dumped from S&P 500 Index

Macy’s has been removed from the benchmark S&P 500 stock index. Its market capitalization currently is a representative of small-cap space according to S&P Dow Jones Indices.American department store Macy’s Inc (NYSE: M) is currently experiencing the adverse effect of the novel coronavirus as it has been revealed that it will be removed from the benchmark S&P 500 stock index and be replaced by air conditioning company Carrier Global. Carrier Global Corp spun out last month by...

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