Dollar Tree’s decade-long effort to fold the Family Dollar chain into its business is ending after agreeing to sell the bargain store chain to a pair of private equity firms for $1 billion.

Dollar Tree Inc. bought Family Dollar with its over 7,000 stores ten years ago for more than $8 billion.

Neil Saunders, managing director of GlobalData, said that Dollar Tree struggled with supply chain issues, poor store locations and other operational difficulties ever since making the acquisition.

Wall Street slumps as Nvidia, Tesla slump

Drops for Nvidia, Tesla and other former superstars dragged Wall Street lower on Wednesday.

The S&P 500 sank 1.1% to break what had been a run of calmer trading. The Dow Jones Industrial Average swung from a gain of 230 points in the morning to a loss of 132 points, or 0.3%, while the weakness for Big Tech sent the Nasdaq composite to a market-leading drop of 2%.

The group of dominant stocks known as the “Magnificent Seven” has been at the center of the U.S. stock market’s recent sell-off, which earlier this month took the S&P 500 10% below its all-time high for its first “correction” since 2023. Big Tech had rocketed in earlier years amid a frenzy around artificial-intelligence technology, and critics said their prices rose too quickly compared with their already rapidly growing profits.

Nvidia fell 6% to bring its loss for the young year so far to 15.5%. It was the single heaviest weight on the S&P 500 by far.