Dow slides over 600 points as Treasury yields rise and Walmart sales disappoint

Higher Treasury yields and a soft Walmart sales report triggered a broad market sell-off, sending the Dow Jones Industrial Average down more than 600 points. The S&P 500 and Nasdaq Composite each slipped, while crude oil traded above $87, its highest level since late July. Walmart's stock declined 9% after its quarterly comparable sales fell short of Wall Street forecasts, dragging the consumer-staples index down 1.5% and weakening consumer-discretionary stocks.

Rival chains Albertsons and Costco also posted losses after the retailer's earnings. Treasury Secretary Scott Bessent signaled a possible increase in government bond repurchases, but yields continued to climb, adding pressure to equities.