Wall Street Sinks as Bond Yields Rise and Walmart Falls
U.S. equity indexes closed lower as rising Treasury yields dented risk appetite. Disappointing results from Walmart soured investors on the consumer sector, while rallying oil prices fanned inflation worries.
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United States equities fell on Thursday afternoon as rising bond yields and disappointing earnings from WALMART INC weighed on investor sentiment. The Dow Jones Industrial Average dropped 703.84 points, or 1.32%, to close at 52,759.21. The pullback reflects mounting anxiety over consumer resilience as elevated energy costs and borrowing rates pressure retail margins.
