P.M. Edition for May 21. In its first quarter earnings reported today, Target’s sales declined more than analysts expected and the company lowered its outlook for fiscal 2025. WSJ reporter Sarah Nassauer discusses the challenges facing Target’s business. Plus, a meeting between President Trump and South African President Cyril Ramaphosa grew tense over Trump’s unsubstantiated claims that white South Africans were the victims of a possible genocide. And a report from the Boston Fed examines potential risks of the rapidly expanding nonbank lending, which is often financed by banks. Platform editor Isaac Taylor breaks down what that means. Alex Ossola hosts.

Boycotting Target: A WSJ Podcast Series

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