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.
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