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By Liz Moyer
Investing.com — U.S. stocks fell on Wednesday after a weak outlook from Target fueled fears that inflation was going to hurt retailers this holiday season.
At 10:15 ET (15:15 GMT) the was down 13 points, or 0.04%, while the was down 0.6% and the was down 1.5%.
Target Corporation (NYSE:) shares fell more than 14% on its , in which it blamed inflation and shifting consumer spending for a drop in demand. Its early promotions for the holiday shopping season cut into profit.
U.S. rose 1.3% in October, which was more than the 1% expected after a muted September.
Investors have been clinging to any signs that is cooling so the Federal Reserve can start to ease back on the size of its interest . The market is
expecting
that while interest rates will rise again next month, the Fed will raise its benchmark rate by just a half of a percentage point, rather than the 0.75 percentage point it has moved rates higher in each of its last four meetings.
Shares of home improvement retailer Lowe’s Companies Inc (NYSE:) rose after it raised its profit forecast for the year, a contrast to Target.
Oil fell. was down 2.2% to $84.97 a barrel, while crude fell 1.6%, to $92.33. was flat at around $1778.
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