Stock market news live updates: Stocks sink by most since June 2020 as retail results disappoint across the board

U.S. stocks sank on Wednesday after a series of disappointing quarterly results from some major retailers weighed on the broader markets. Investors also further digested remarks from Federal Reserve officials reaffirming their aims of reining in inflation. The S&P 500 slid by 4% in its worst day since June 2020, closing at 3,923.68. The Nasdaq…