Mid-Morning Market Update: Markets Open Lower; Target Earnings Miss Views U.S. stocks traded lower this morning, with the Dow Jones dropping more than 400 points on Wednesday. Following the market opening Wednesday, the Dow traded down 1.42% to 32,191.77 while the NASDAQ fell 1.99% to 11,746.34. The SP also fell, dropping, 1.76% to 4,017.01. Also check this: Executives Buy Around $1.6M Of 4 Penny Stocks Leading and Lagging Sectors Utilities shares fell by just 0.2% on Wednesday. Meanwhile, top gainers in the sector included Huaneng Power International, Inc. (NYSE: HNP ), up 6% and Hawaiian Electric Industries, Inc. (NYSE: HE ) up 3%. In trading on Wednesday, consumer discretionary shares dipped 3.4%. Top Headline Target Corporation (NYSE: TGT ) reported weaker-than-expected earnings for its first quarter on Wednesday. Target reported first-quarter FY22 sales growth of 4% year-on-year to $25.17 billion, beating the consensus of $24.37 billion. Adjusted EPS of $2.19 missed the consensus of $3.07. Target continues to expect FY22 revenue growth of low- to mid-single-digit.