Wall Street closed lower as hefty drops in retailers and technology companies offset gains elsewhere in the market.
The S&P 500 lost 0.8% Wednesday. The Nasdaq fell 1.5%, and small-company stocks fell even more. The Dow Jones Industrial Average closed slightly lower.
Target fell sharply after delivering a dismal financial report. Target also cut its forecasts for the holiday season and said its sales slowed sharply in recent weeks. The government reported that retail sales rose overall last month, but it’s unclear how much of that strength is due to increased purchases versus higher prices.
The S&P 500 fell 32.94 points, or 0.8%, to 3,958.79.
The Dow Jones Industrial Average fell 39.09 points, or 0.1%, to 33,553.83.
The Nasdaq fell 174.75 points, or 1.5%, to 11,183.66.
The Russell 2000 index of smaller companies fell 36.04 points, or 1.9%, to 1,853.17.
For the week:
The S&P 500 is down 34.14 points, or 0.9%.
The Dow is down 194.03 points, or 0.6%.
The Nasdaq is down 139.67 points, or 1.2%.
The Russell 2000 is down 29.57 points, or 1.6%.
For the year:
The S&P 500 is down 807.39 points, or 16.9%.
The Dow is down 2,784.47 points, or 7.7%.
The Nasdaq is down 4,461.31 points, or 28.5%.
The Russell 2000 is down 392.15 points, or 17.5%.