Markets Finish Sharply Lower Amid Weak Retail Earnings; Dow Suffers Worst Decline Since June 2020 - State

U.S. indices traded sharply lower Wednesday following worse-than-expected retail earnings this week. Anticipation of further Fed policy tightening has continued to weigh on stocks across sectors.

The Nasdaq composite finished lower by 4.7% to 11,418.15; The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) lost 4.91% to $291.14
The S&P 500 traded lower by 4.03% to 3,924; The SPDR S&P 500 ETF Trust (NASDAQ:SPY) lost 4.01% to $391.86
The Dow Jones composite finished lower by 3.5% to 31,490.07; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished lower by 3.53% at $315.55

Here are the day's winners and losers from the S&P 500, according to data from Benzinga Pro.

TJX Companies Inc (NYSE:TJX), NRG Energy Inc (NYSE:NRG) and Assurant, Inc. (NYSE:AIZ) were among the only gainers.

Target Corporation (NYSE:TGT), Dollar Tree, Inc. (NASDAQ:DLTR) and Old Dominion Freight Line Inc (NASDAQ:ODFL) were among the top losers.

Elsewhere On The Street

"Daily Show" host Trevor Noah recently criticized the tax laws that allow billionaire Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk to borrow money tax-free using his Tesla shares as collateral to fund his $44 billion proposed buyout of Twitter Inc (NYSE:TWTR)... Read More

Walmart, Inc (NYSE:WMT) stock was falling further Wednesday after plummeting over 11% on Tuesday following its first-quarter 2023 earnings print... Read More

Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two major radio broadcasters... Read More

DIAState Street SPDR Dow Jones Industrial Average ETF Trust

$494.380.08%

Overview

QQQInvesco QQQ Trust, Series 1

ODFLOld Dominion Freight Line Inc