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Bond yields reversed course Thursday after the Treasury's debt buyback plan failed to sustain a rally in fixed-income markets
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U.S. stocks fell Thursday as Treasury yields climbed back from the prior session's decline and a steep drop in Walmart $WMT stock weighed on the broader market. The Dow Jones Industrial Average dropped 350 points, or 0.6%, with the S&P 500 off 0.3% and the Nasdaq $NDAQ Composite retreating 0.4%.
Walmart stock fell 8% after the company's U.S. comparable-store sales came in below what analysts had expected; its adjusted earnings outlook for the third quarter and the full year also disappointed, according to CNBC.
