Investor Alert

May 18, 2022, 9:54 a.m. EDT

U.S. stocks fall sharply Wednesday morning, slumping after Tuesday's bounce

The U.S. stock market was trading sharply lower Wednesday morning, failing to extend Tuesday's bounce, as retailer Target Corp. fell into the spotlight after reporting a big earnings miss for its fiscal first quarter. The Dow Jones Industrial Average (DOW:DJIA) was trading around 1.2 % lower, the S&P 500 (S&P:SPX) was down 1.5% and the Nasdaq Composite (NASDAQ:COMP) had a decline of 1.8%, according to FactSet data, at last check. Shares of Target (NYS:TGT) plunged around 26% after reporting its profit miss, becoming the biggest loser in the S&P 500 index, FactSet data show, at last check.

Link to MarketWatch's Slice.