Dow finishes down over 1,100 points in biggest decline since 2020


U.S. stocks tumbled Wednesday, with all three major benchmarks closing sharply lower as consumer stocks including Target Corp. were battered. The Dow Jones Industrial Average DJIA, -3.57% closed 3.6% lower, the S&P 500 SPX, -4.04% sank 4% and the technology-heavy Nasdaq Composite COMP, -4.73% dropped 4.7%, according to preliminary FactSet data. Shares of Target TGT, -24.93% tanked after reporting a big earnings miss, closing almost 25% lower. All 11 sectors of the S&P 500 fell Wednesday, with consumer discretionary and consumer staples taking the biggest hit, FactSet data show. The S&P 500 booked its largest daily decline since June 2020, according to Dow Jones Market Data.

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