Live Markets: US stocks tank on resumed bond rout, weak Walmart results

Walmart

20/08/2026 21:15

Main US indexes close sharply lower
Consumer staples weakest S&P 500 sector; Energy leads gainers
Dollar edges higher; US crude up >2.5%; Bitcoin up >5%; gold ~flat
US 10-year Treasury yield rises to ~4.70%
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U.S. STOCKS TANK ON CONTINUED BOND ROUT, WEAK WALMART RESULTS
Wall Street slid on Thursday, erasing Wednesday's gain in a broad selloff that gathered momentum as the closing bell approached.
The Nasdaq .IXIC, the Dow .DJI and the Russell 2000 .RUT each fell more than 1%, with the S&P 500 .SPX off by nearly that much.
Real estate .SPLRCR and energy .SPNY were the only winners among the 11 major S&P sectors. Consumer staples .SPLRCS, healthcare .SPXHC and discretionary .SPLRCD were the clear laggards.
Gold and silver miners .XAU had a good day, rising 2.5%.
U.S. Treasury Secretary Scott Bessent said a U.S. Treasury buyback could increase even further, the day after he announced plans to double them in an effort to tame spiking yields.
Those spiking yields, arising from the expanding Middle East quagmire and fears over ballooning sovereign debt, have dampened investor risk appetite this week, putting all three major U.S. equity indexes on track for weekly losses.
Since last Friday, WTI crude CLc1 has risen well over 6%, as the likelihood of a near-term resolution to the U.S.-Iran stalemate faded following retaliatory threats from Trump. WTI and Brent both settled up over 2.3% on the day.
The prospect of prolonged upward pressure on energy prices kept inflation fears alive and well.
Minutes from the Federal Reserve's July meeting revealed policymakers' unease over price growth and suggested a rate hike at the conclusion of the central bank's September meeting can't be ruled out. 
Second-quarter earnings season is drawing to a close. Before the bell, Walmart WMT.N reported its slowest same-store sales growth rate in six years, sending the retail giant's shares down 9.2%. 
On the other hand, heavy equipment maker Deere DE.N raised its 2026 profit view as it benefits from the AI construction boom. Its shares advanced 6.9%.
Crypto firms enjoyed a solid day after U.S. President Donald Trump called on Congress to pass a crypto bill. Strategy MSTR.O and Coinbase COIN.O advanced 7.8% and 7.6%, respectively.
On the economic front, initial jobless claims came in below expectations after the prior week was upwardly revised, the Philly Fed Business index surged to its strongest reading in more than five years, and the Conference Board's Leading Economic Index posted a stronger-than-expected 0.2% gain.
On Friday, S&P Global is due to wrap up a relatively slow data week with its advance "Flash" August PMI report.
Here's your closing snapshot:
(Stephen Culp)
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EARLIER ON LIVE MARKETS:
TRUIST UPGRADES GOLD TO "NEUTRAL" AS REAL YIELDS STABILIZE, DOLLAR WEAKENS CLICK HERE
RISING AI-RELATED DEBT ISSUANCE, WIDENING TECH CDS SPREADS: IS THERE A CLIFF UP AHEAD? CLICK HERE
A BIT MORE CAUTION CREEPS IN - AAII CLICK HERE
DATA TRIPLE-PLAY: JOBLESS CLAIMS, PHILLY FED, LEADING ECONOMIC INDEX CLICK HERE
U.S. STOCKS ERASE WEDNESDAY RALLY AS UPWARD BOND YIELD PRESSURE RESUMES CLICK HERE
GOLD SHINES, MINERS SOAR, NOW COMES THE TEST CLICK HERE
THE CASE FOR EQUITIES REMAINS CLICK HERE
WHEN AI CRASHES, THE FRANC STANDS TO GAIN CLICK HERE
STOXX HEADS FOR SEVENTH STRAIGHT DAILY FALL CLICK HERE
EUROPE BEFORE THE BELL: STEADY AS CAN BE CLICK HERE
HOW LONG CAN THIS BESSENT PUT LAST? CLICK HERE
     

Closing snapshot https://www.reuters.com/graphics/USA-STOCKS/egvbwxgjbpq/closer.png