How major US stock indexes fared Wednesday
The Associated Press
Stocks closed sharply lower on Wall Street Wednesday as dismal results from Target renewed fears that inflation is battering U.S. companies. The S&P 500, the benchmark for many index funds, slumped. Target lost a quarter of its value, dragging other retailers down with it, after saying its profit fell by half in the latest quarter as costs for freight and transportation spiked. That comes a day after Walmart cited inflation for its own weak results. The Dow Jones Industrial Average and the tech-heavy Nasdaq also pulled back sharply. Treasury yields fell as investors sought safer ground.
