Wall Street experienced a decline following a notable drop in Walmart’s stock, which impacted U.S. stock indices.
The S&P 500 decreased by 0.4% on Thursday after achieving record highs for two consecutive days.
The Dow Jones Industrial Average saw a 1% drop, while the Nasdaq composite fell by 0.5%.
Walmart’s updated profit forecast did not meet analysts’ expectations, leading to a decline in the retail sector and overall stock performance.
Additionally, Treasury yields in the bond market decreased slightly due to recent economic reports that were weaker than anticipated.
Stock markets also faced downward trends across various European and Asian indices.
On Thursday, the S&P 500 lost 26.63 points, closing at 6,117.52.
The Dow Jones Industrial Average fell by 450.94 points, bringing it down to 44,176.65.
The Nasdaq composite decreased by 93.89 points, resulting in a close of 19,962.36.
Meanwhile, the Russell 2000 index, representing smaller companies, dropped 20.71 points to reach 2,261.74.
Looking at the week as a whole, the S&P 500 is up slightly by 2.89 points, reflecting an increase of less than 0.1%.
In contrast, the Dow experienced a decrease of 369.43 points or 0.8%.
The Nasdaq also saw a downturn of 64.41 points, corresponding to a loss of 0.3%.
The Russell 2000 index is down 18.24 points, accounting for 0.8%.
For the year so far, the S&P 500 has gained 235.89 points, equating to a rise of 4%.
The Dow has shown an increase of 1,632.43 points or 3.8%.
The Nasdaq has advanced by 651.57 points, or 3.4%.
In comparison, the Russell 2000 index is up 31.59 points, marking a 1.4% increase.