Wall Street futures headed lower after a major U.S. retailer blamed its grim forecast on tariff concerns and oil prices rose.

The retailer announced earlier this year it would phase out long-term diversity, equity and inclusion goals after a conservative-led backlash.

Target’s was already facing a very public revolt from some of its most loyal customers. Now it’s warning about tariffs.

Target weighs in on how tariffs will impact prices after Home Depot and Walmart took opposite approaches. Rising bond yields are creating more headwinds for U.S. stocks. FOX Business is providing real-time updates on the markets,

The TJX Companies, which also owns Marshalls and HomeGoods, maintained the same full-year outlook it released last quarter.

Target reports Q1 financial results Tuesday. The report comes after Walmart's mixed results and the retailer saying it would raise prices to offset tariffs.

On Tuesday, it was reported that Chinese shipments of Apple's iPhone and mobile devices to the US fell to their lowest since 2011 in April. The sharp drop highlights how US tariff

Global retailers including sandal maker Birkenstock and jeweller Pandora are looking at spreading the cost of U.S. tariffs by raising prices across markets to avoid big hikes in the United States that could hurt sales.