S&P 500 suffers biggest daily drop since 2020 as stocks end sharply lower, Target pummeled

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 /zigman2/quotes/210598065/realtime DJIA -0.42% closed 3.6% lower, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.16% sank 4% and the technology-heavy Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +1.75% dropped 4.7%, according to preliminary FactSet data. Shares of Target /zigman2/quotes/207799045/composite TGT +2.34% 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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Dow Jones Industrial Average

US : Dow Jones Global

30,967.82

-129.44 -0.42%

Volume: 328.20M

July 5, 2022 5:04p

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S&P 500 Index

US : S&P US

3,831.39

+6.06 +0.16%

Volume: 2.51B

July 5, 2022 5:04p

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NASDAQ Composite Index

US : Nasdaq

11,322.24

+194.39 +1.75%

Volume: 4.30M

July 5, 2022 5:16p

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Target Corp.

US : U.S.: NYSE

$ 145.71

+3.33 +2.34%

Volume: 3.72M

July 5, 2022 4:03p

P/E Ratio

12.08

Dividend Yield

2.96%

Market Cap

$66.02 billion

Rev. per Employee

$237,729