diff --git a/packages/react-dom/src/__tests__/ReactDOMEventListener-test.js b/packages/react-dom/src/__tests__/ReactDOMEventListener-test.js
index 1b92c0ff53..86ddbbff30 100644
--- a/packages/react-dom/src/__tests__/ReactDOMEventListener-test.js
+++ b/packages/react-dom/src/__tests__/ReactDOMEventListener-test.js
@@ -595,7 +595,8 @@ describe('ReactDOMEventListener', () => {
     const container = document.createElement('div');
     const innerRef = React.createRef();
     const outerRef = React.createRef();
-    const onPlayCapture = jest.fn();
+    const onPlayCapture = jest.fn(e => log.push(e.currentTarget));
+    const log = [];
     document.body.appendChild(container);
     try {
       ReactDOM.render(
@@ -612,12 +613,23 @@ describe('ReactDOMEventListener', () => {
         }),
       );
       expect(onPlayCapture).toHaveBeenCalledTimes(3);
+      expect(log).toEqual([
+        outerRef.current,
+        outerRef.current.firstChild,
+        innerRef.current,
+      ]);
       outerRef.current.dispatchEvent(
         new Event('play', {
           bubbles: false,
         }),
       );
       expect(onPlayCapture).toHaveBeenCalledTimes(4);
+      expect(log).toEqual([
+        outerRef.current,
+        outerRef.current.firstChild,
+        innerRef.current,
+        outerRef.current,
+      ]);
     } finally {
       document.body.removeChild(container);
     }
diff --git a/packages/react-dom/src/events/DOMPluginEventSystem.js b/packages/react-dom/src/events/DOMPluginEventSystem.js
index 161f3931df..3083031fd3 100644
--- a/packages/react-dom/src/events/DOMPluginEventSystem.js
+++ b/packages/react-dom/src/events/DOMPluginEventSystem.js
@@ -718,9 +718,6 @@ export function accumulateSinglePhaseListeners(
   const captured = bubbled !== null ? bubbled + 'Capture' : null;
   const listeners: Array<DispatchListener> = [];
 
-  // If we are not handling EventTarget only phase, then we're doing the
-  // usual two phase accumulation using the React fiber tree to pick up
-  // all relevant useEvent and on* prop events.
   let instance = targetFiber;
   let lastHostComponent = null;
   const targetType = event.type;
diff --git a/packages/react-dom/src/events/plugins/SimpleEventPlugin.js b/packages/react-dom/src/events/plugins/SimpleEventPlugin.js
index a09d2d7bc7..641e8a4ed9 100644
--- a/packages/react-dom/src/events/plugins/SimpleEventPlugin.js
+++ b/packages/react-dom/src/events/plugins/SimpleEventPlugin.js
@@ -43,6 +43,7 @@ import getEventCharCode from '../getEventCharCode';
 import {IS_CAPTURE_PHASE, IS_NON_DELEGATED} from '../EventSystemFlags';
 
 import {enableCreateEventHandleAPI} from 'shared/ReactFeatureFlags';
+import {getClosestInstanceFromNode} from '../../client/ReactDOMComponentTree';
 
 function extractEvents(
   dispatchQueue: DispatchQueue,
@@ -174,6 +175,13 @@ function extractEvents(
     // TODO: We may also want to re-use the accumulateTargetOnly flag to
     // special case bubbling for onScroll/media events at a later point.
     const accumulateTargetOnly = inCapturePhase && isNonDelegatedEvent;
+    // If we are not handling accumulateTargetOnly, then we should traverse
+    // through all React fiber tree, finding all relevant useEvent and
+    // on* prop events as we traverse the tree. Otherwise, we should
+    // only handle the target fiber and stop traversal straight after.
+    if (accumulateTargetOnly) {
+      targetInst = getClosestInstanceFromNode(((targetContainer: any): Node));
+    }
 
     // We traverse only capture or bubble phase listeners
     accumulateSinglePhaseListeners(