The Dow Jones Industrial Average, tracked by the SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), shed 700 points on Thursday as Walmart (NASDAQ:WMT) shares sank 9%.
The S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), lost 0.7% and the Nasdaq Composite, tracked by the Invesco QQQ Trust (NASDAQ:QQQ), dropped 1% as the 10-year Treasury yield climbed more than 5 basis points to 4.706% and the 30-year yield rose more than 5 basis points to 5.251% after spiking earlier this week to its highest level in nearly 20 years.
The Treasury said it will at least double repurchases of 10-, 20- and 30-year debt in the coming months, and Treasury Secretary Scott Bessent said the buyback operation could be larger than the $4 billion announced.
Walmart’s Slow Sales Growth Hits Stock
Walmart‘s (NASDAQ:WMT) stock took a significant hit after reporting its slowest domestic sales growth in six years. On Thursday, the retail giant’s shares dropped 9.4% to $103.62, marking its sharpest single-session decline in four years.
