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 +2.68% closed 3.6% lower, the S&P 500 /zigman2/quotes/210599714/realtime SPX +3.06% sank 4% and the technology-heavy Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +3.34% dropped 4.7%, according to preliminary FactSet data. Shares of Target /zigman2/quotes/207799045/composite TGT +2.46% 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.