Global stock markets drifted lower on Thursday as oil prices rose and US government bond yields climbed again despite an intervention to calm the bond market on Wednesday. US bonds unwound all of the gains that followed US Secretary of the Treasury Scott Bessent’s plan to increase buy-backs of longer-dated debt, a sign that investors see it as only a short-lived remedy to curb borrowing costs.This came after the Treasury department said that total US debt topped $40 trillion for the first time and the minutes of the last US Federal Reserve meeting showed that policymakers are concerned about rising inflation, with several officials ready to hike interest rates. Further worries from investors in relation to the Iran war’s impact on oil prices was evident on Thursday as Brent crude oil surged past $90 a barrel for the first time since late July.DublinThe Iseq Overall index rose 0.4 per cent on Thursday, to close at 14,031.78.AIB and Bank of Ireland were among the biggest risers in the day, with Colin Hunt-led AIB up 2.1 per cent to €10.85 and the latter’s shares valued at €18.86 at close, up 1.5 per cent.Shares also rose 1.7 per cent at Greencoat Renewables to €0.78, while Kenmare Resources’s share price was up 1.6 per cent to €2.50.FBD, Ireland’s only indigenous general insurer, recorded the biggest decline in the day, down 7.5 per cent to €18.50, followed by Irish Continental Group (ICG), which fell 3.6 per cent to €7.ICG’s independent board on Thursday warned a €1.2 billion management buyout being led by Eamon Rothwell was likely to be rejected based on proxy votes received to date.LondonLondon’s FTSE 100 rebounded late in the afternoon and closed at 10,748.16, up 0.04 per cent.The index had slipped 0.05 per cent since open to a low of 10,684.38 by lunchtime on Thursday after JD Sports’ stock price tumbled more than 14 per cent after cutting profit outlook on weak ‌US sales.The downbeat outlook confirmed that the promotional and product cycle pressures the management has flagged ⁠for months are not easing, said ​eToro market analyst Adam Vettese.Ashtead Technology recorded a similar decline, with shares down 14.9 per cent after the subsea equipment rental and solutions ​firm forecast annual results below market expectations due to project delays across multiple regions.During the day, shares of insurer ​Legal & General and wealth manager Investec fell 3.7 per cent and 4.4 per cent respectively as they traded without entitlement ⁠to a dividend payout.EuropeEuropean shares inched lower on Thursday, as elevated oil prices kept inflation worries alive, while a recovery in global bonds after a US Treasury intervention helped limit losses.The pan-European Stoxx 600 closed 0.12 per cent lower at 650.35 points, extending its ​losing streak to a seventh straight session, its longest since September 2023.Novonesis jumped 9.7 per cent after the ​Danish biosolutions maker raised its full-year guidance and announced a share buyback. Stocks were up 6.6 per cent to €195 in the pharma firm Sartorius Stedim Biotech UBS upgraded its shares from neutral to buy and raised its price target from €220 to €260.On the macro front, German producer prices rose at their fastest pace in over three years in July, data showed, driven by higher costs for intermediate goods and energy.Sweden’s benchmark share index ‌rose 0.3 per cent after the Riksbank ⁠left its key interest rate unchanged at 1.75 per cent as expected and signalled it stood ready to tighten policy if price pressures accelerate.New YorkWall Street hit a two-week low on Thursday as climbing Treasury yields dented risk appetite, while a rare quarterly sales miss from retail bellwether Walmart disappointed investors.In early trading, the Dow Jones Industrial Average was down 0.9 per cent, the S&P 500 index was down 0.4 per cent, and the Nasdaq Composite had slipped 0.9 per cent.Walmart shares fell 9.2 per cent after missing expectations for quarterly comparable ​sales as shoppers pulled back on spending in the face of rising gas prices. Rival retailers were pulled lower after Walmart’s earnings, with Albertsons and Costco down 1.3 per cent and 1.4 per cent.“Investor sentiment wavered after the company [Walmart] held to its conservative guidance last ​quarter, and the slightly raised outlook may not be sufficient to restore confidence,” Emarketer principal analyst Sky Canaves said. – – Additional reporting by Reuters and Bloomberg