New Delhi, Aug. 20 -- Retail bellwether Walmart saw its shares plunge sharply on Thursday, 20 August, falling 10% to a nine-month low of $103 apiece after the company missed quarterly comparable sales estimates for the first time in more than five years. The slowdown came as shoppers pulled back on spending amid rising gasoline prices.

US comparable sales, a closely watched benchmark, grew 2.6% excluding fuel, slowing from 4.1% in the first quarter and coming in below analysts' estimates compiled by Bloomberg.

The pace of growth, hindered primarily by pricing pressure in Walmart's pharmacy business, was the slowest in more than six years. The retail giant said its pharmacy operations weighed on US sales due to federal negotiations that ...