Starbucks (SBUX) shares experienced a sharp 24-hour plunge of 5.07% in Sunday's trading session, extending the company's recent downward trend amid broader market challenges and economic pressures. This latest decline comes on the heels of a significant 11.84% drop over the past quarter, reflecting investor concerns about the company's short-term prospects in a turbulent economic environment.

The coffee giant's stock performance aligns with the broader market downturn, which has seen the S&P 500 fall by 6% and the Nasdaq enter bear market territory. Global tariff tensions and macroeconomic factors have contributed to the overall market volatility, impacting companies across various sectors, including the hospitality industry where Starbucks is a key player.

Despite the recent stock price decline, Starbucks has reaffirmed its commitment to shareholder value by maintaining its quarterly dividend of $0.61 per share. This move, coupled with the company's long-term strategy and digital initiatives, suggests that management remains confident in Starbucks' ability to navigate current challenges. Analysts maintain a consensus price target of $107.51, implying an 8.60% potential upside from current levels. However, investors are advised to carefully consider both the near-term economic headwinds and Starbucks' strong five-year performance track record when evaluating the stock's potential.