The stock had briefly knee-jerked higher after earnings were released, but quickly gave up gains. The selloff intensified after Chief Executive Corie Barry told analysts on the earnings call that tariffs imposed by the administration of President Donald Trump “make price increases for American consumers highly likely.”

Wall Street investors, retail executives and economic analysts are sounding growing alarms that the new administration’s trade policies could pinch shoppers and the economy.

Target and Best Buy warned shoppers to expect higher prices as a result of President Donald Trump’s escalating trade war.