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Walmart’s 10% stock drop spells trouble for its 401(k) plan

Walmart Inc.'s stock dropped 10.18% on Tuesday to $94.11 per share, causing a large impact on its 401(k) plan.

The Bentonville, Ark.-based retail giant held 41.17 million shares in its own 401(k) plan as of Jan. 31, 2017, which were then valued at $2.75 billion, according to the company's 11-K last year. Company stock made up 11.4% of the $24.2 billion plan as of Jan. 31, 2017.

Tuesday was the biggest single-day stock drop for Walmart in 30 years.

With Walmart's stock valued at $104.78 per share at the Feb. 16 close, the 401(k) plan lost $439.3 million on Tuesday, based on the amount of shares the plan held as of Jan. 31, 2017. Those holdings were down a further $106.6 million on Wednesday as the stock dropped a further 2.75% to $91.52 per share.

However, based on the company's 41.17 million shares, the plan had gained $1.56 billion in assets from Jan. 31, 2017, through Feb. 16.

Another Walmart shareholder, the California Public Employees' Retirement System, Sacramento, held 3.96 million shares as of Dec. 31, according to the $353.5 billion pension plan's most recent Form 13-F. The market value of those holdings lost $42.3 million on Tuesday.

Meanwhile, the $231.6 billion California State Teachers' Retirement System, West Sacramento, which held 2.84 million shares as of Dec. 31, is estimated to have lost $30.27 million on Tuesday.