You suggest that Walmart's price should go down 36% based on a 1% interest rate increase. I apologize but I'm confused.
Today, Walmart's stock price is $146, its market cap is $416b and it has $61b in debt. Let's assume that Walmart pays an average interest rate of 6% on its debt. Let's further assume that a 1% increase in its debt expense would be approximately $610m.
An additional expense of $610 million should not lead to a reduction of stock value of $140b+/- based on an added expense of less than $1b.
What am I missing?