Wall Street sinks as bond yields rise
Rising Treasury yields dent risk appetite while rallying oil prices fan inflation worries among investors.
Wall Street experienced a decline on Thursday as Treasury yields rose, dampening risk appetite and causing concern among investors. The three main US equity indexes closed lower, with the Dow Jones Industrial Average falling 1.32% and the S&P 500 and Nasdaq Composite each dropping 0.87% and 1.00%, respectively. Walmart, a key retail bellwether, missed earnings expectations due to higher gasoline prices, which led to a 9.2% share price decline.
The S&P 500's consumer staples and discretionary sectors, along with rival retailers like Costco and Dollar Tree, also saw significant losses. Rising oil prices and inflationary pressures added to inflation worries, further dampening investor sentiment. Despite a brief reprieve in Treasury bond yields, they regained their upward trajectory, exacerbating the negative impact on equities.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Wall Street sinks as bond yields rise freemalaysiatoday.com
- Wall Street sinks as bond yields rise news.rthk.hk
