![dow jstock market news dow jstock market news](https://image.cnbcfm.com/api/v1/image/106575654-1591992102232img_10_57_30_1497655_1000-1591991922388.jpg)
![dow jstock market news dow jstock market news](https://dynaimage.cdn.cnn.com/cnn/digital-images/org/2fe4a690-d6b0-4246-ab8b-283abaa4ebef.jpg)
“Throughout the quarter, we faced unexpectedly high costs, driven by a number of factors, resulting in profitability that came in well below our expectations, and well below where we expect to operate over time,” said Target’s chief executive, Brian Cornell. Gas prices topped $4 a gallon in every state this week for the first time. Target’s management expects inflation to add $1bn to its fuel and freight costs this year and sees little sign of those costs easing throughout 2022. Stocks in Tokyo, Hong Kong and Seoul were all braced for losses later in the day. The concerns are affecting markets all over the world with the ASX200 in Sydney dropping 1.75% on Thursday in the wake of the Wall Street action. Investors are increasingly concerned that rising inflation, and the Federal Reserve’s plans to tackle it by sharply hiking interest rates, will trigger a recession. The latest news from Target led to a sell-off for retailers including Amazon, BestBuy, Costco and Dollar General. The retailer’s announcement came a day after Walmart said its profit had also been hit by higher costs. The sell-off began after Target said supply chain costs and inflationary pressures had cut into its profits and customers were buying fewer higher-margin items such as kitchen appliances, televisions and furniture. Just a day later concerns about an economic slowdown triggered a wide-ranging sell-off. It's a joint venture between S&P Global, the controlling member, and the CME Group.On Tuesday markets had rallied following positive news about consumer spending and signs that China was relaxing its strict Covid-19 lockdowns. In 2012, the Dow Jones Indexes were bought by S&P Dow Jones Indices LLC. The index was created by Charles Dow, the founder of the Wall Street Journal in 1896 to serve as a proxy for the broader US economy.The value of the index is the sum of the price of one share of stock for each component company divided by a factor, which changes whenever one of the component stocks has a stock split or stock dividend, so as to generate a consistent value for the index.It is the second-oldest US market index after the Dow Jones Transportation Average. The DJIA is a price-weighted index that tracks 30 large, publicly-owned companies trading on the New York Stock Exchange (NYSE) and the Nasdaq. The Dow Jones Industrial Average (DJIA), or simply known as “Dow”, is a widely-watched benchmark index in the US for blue chip stocks. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). This content is authored by an external agency. It's a joint venture between S&P Global, the controlling member, and the CME Group. Read More The Dow Jones Industrial Average (DJIA), or simply known as “Dow”, is a widely-watched benchmark index in the US for blue chip stocks. The DJIA is a price-weighted index that tracks 30 large, publicly-owned compa.