U.S. stocks trade down after opening bell Tuesday following Target’s profit warning

All three major U.S. stock benchmarks were trading down Tuesday morning, sliding after retailer Target Corp. delivered a profit warning and a plan for additional markdowns in the second quarter as it seeks to reduce excess inventories. The Dow Jones Industrial Average was trading about 0.6% lower, while the S&P 500 was down around 0.7% and the Nasdaq Composite fell about 0.9%, according to FactSet data, at last check. Target said Tuesday that it now expects its operating-margin rate will be around 2% in the second-quarter, lowering the guidance it provided last month.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.