S&P 500 Falls 0.83 Percent as Rising Yields and Walmart’s Earnings Miss Spark Broad Selloff
US equities retreated sharply as Treasury yields resumed their ascent, erasing gains from Wednesday’s relief rally. The S&P 500 closed down 0.83 percent at 7,643.65, while the Nasdaq and Dow Jones dropped 1.04 percent and 1.30 percent, respectively. Traders interpreted expanded Treasury buybacks as potentially inflationary amid ample liquidity, pushing yields higher and pressuring risk assets.
The 30-year Treasury yield approached a near 19-year high of 5.34 percent earlier in the week, while Brent crude rose to $93 a barrel, up 1.5 percent, as US-Iran tensions persisted. Walmart’s earnings miss sent its shares down 8 percent, exacerbating losses in retail and technology sectors.
The selloff was broad-based, with financials, tech, and retail stocks all declining. AI-linked hyperscalers also faced selling pressure, adding to the market’s weakness.