Target’s stock was down more than 20% in afternoon trading, compared with a 0.6% decline for the S&P 500 index, according to FactSet data, at last check. The S&P 500’s consumer-staples sector was slumping 0.4% on Wednesday afternoon.

Stocks closed higher on Wall Street as the market posted its fifth straight gain and the Dow Jones Industrial Average notched another record high. The S&P 500 rose 0.3%. The benchmark index’s 1.7% gain for the week erased most of its loss from last week.

Earnings season mostly wrapped up this week, capped off by Nvidia's results. The dollar, meanwhile, continued to rise, hitting its highest level since 2022.

The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 65 points, or 0.1%, and the Nasdaq composite edged up 0.1%. Treasury yields held relatively steady in the bond market.