Sharp Drop in Retailers Helps Pull Wall Street Indexes Lower

Trader Colby Nelson works on the floor in the New York Stock Exchange on May 17, 2022. Courtney Crow/New York Stock Exchange via AP

NEW YORK—Stocks fell in morning trading on Wall Street Wednesday, led by led by steep drops in retailers as Target plunged after issuing a grim quarterly earnings report.

The S&P 500 fell 1.6 percent as of 10:23 a.m. Eastern. The Dow Jones Industrial Average fell 456 points, or 1.4 percent, to 32,197 and the Nasdaq fell 1.6 percent.