Slowing COVID-19 vaccine usage The retail pharmacy giant Walgreens (NASDAQ: WBA) reported adjusted earnings per share of $0.92 on revenue of $32.6 billion for the company's third fiscal quarter of 2022 ending May 31. Investors have spent the year battling high inflation, rapidly rising interest rates, the Fed's reduction of its balance sheet, Russia's ongoing invasion of Ukraine, and a looming recession. Today's sell-off didn't appear to be anything new, although the Fed's preferred gauge for inflation, the core personal consumption expenditures price index, rose 4.7% in May compared to a year prior.