Stocks opened with losses Wednesday after Target became the latest in a string of retailers to announce lower-than-expected first quarter earnings and voice concerns about its future profits. The Dow Jones Industrial Average was down more than 700 points shortly after 11 Wednesday, a decline of 2.2 percent. The Nasdaq composite was down 2.6 percent and the S&P 500 index was down 2.5 percent. Shares of Target plunged as much as 25 percent lower after the retail giant reported earnings well below Wall Street analyst’s estimates. The company blamed a sharp rise in fuel and employee compensation costs along with fewer sales of non-essential goods. Target also warned that the company
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