Wall Street closed with sharp losses after US Treasury intervention failed to calm the bond market

The three major US stock indices closed sharply lower on Thursday, with rising Treasury yields dampening investor risk appetite, while disappointing results for Walmart, one of the leading retailers in the retail sector, raised investors' concerns about the consumer sector, and rising oil prices exacerbated inflation concerns. At the end of the session, Dow Jones fell by 1.3%, or 704 points, to 52,769 points.

The S&P 500 fell by 0.8%, or 66 points, to 7,641 points, while the Nasdaq fell by 1%, or 264 points, to 26,067 points. Wal-Mart shares fell sharply after quarterly comparable store sales fell short of Wall Street expectations, as shoppers resorted to cutting back on their spending as gasoline prices rose. The report led to pressure on the Standard & Poor's 500 consumer staples indexes and the Standard & Poor's 500 consumer staples indices.

Discretionary. Shares of competing retailers, such as Costco, Dollar Tree and Albertsons, also fell, affected by the decline in Walmart's stock. Bond market warns of risks Analysts highlighted the pressure that rising bond yields are putting on stocks. Wall Street indices rose on Wednesday after the US Treasury announced that it would spend more than double the expected amount to buy back bonds, in an attempt to calm the recent rise in its yields.

But stocks fell on Thursday as yields returned to the rise. Yields on 30-year and 10-year bonds fell briefly after US Treasury Secretary Scott Besent said he may again increase the amount of Treasury bonds the government will buy back. However, yields resumed their upward trend. Oil lifts energy stocks and increases pressure on consumer sectors. The consumer discretionary goods sector in the Standard & Poor's 500 index was among the largest...

Factors pressing on the benchmark index, with huge companies such as Amazon and Tesla among the stocks that have the greatest impact on the index scores. The biggest decliners in terms of percentage included Royal Caribbean Group and Carnival, which are affected by fuel prices. The Standard & Poor's 500 energy sector index rose, with oil prices rising for the fifth session in a row, due to faltering peace talks between the United States and Iran and supply disruptions in the country.

The Middle East. Real estate stocks also outperformed. Meanwhile, shares of companies related to cryptocurrencies, such as Strategy and the operator of cryptocurrency trading platforms Coinbase Global, rose, a day after US President Donald Trump called on Congress to pass a law related to cryptocurrencies. Biotechnology company Moderna gave up a large portion of its gains recorded on Wednesday, when its stock jumped by about 177%.

rose

Oil prices during trading on Thursday, while investors evaluated the prospects of war between the United States and Iran, in addition to the safety of shipping movement through the Strait of Hormuz.

The Canadian dollar rose to near its highest level in about three months against its American counterpart during Thursday’s trading, at a time when Canadian bond yields rose, amid investors’ assessment of the impact of rising oil prices, in addition to growing hopes for the possibility of reaching a trade agreement between Canada.

And the United States.

Most digital currencies rose during trading today, Thursday, in light of widespread demand in the markets and technical purchases from investors after a meeting held by Trump with officials with the aim of urging the US Congress to approve the Clarity Act to regulate the cryptocurrency market.