Crude Oil Gains 3%; Walmart Shares Drop After Q2 Results
benzinga_article·- U.S. stocks traded lower on Thursday, with the Dow falling 0.84% and the Nasdaq dropping 0.87% amid mixed economic data and corporate earnings reports. - Walmart shares tumbled approximately 10% after issuing third-quarter guidance below market estimates despite beating second-quarter earnings expectations. - Crude oil gained 3% to reach $88.39, while various individual equities experienced significant movements following their latest financial reports and corporate updates.Why Is the Stock Market Down Today, 8/20/26?
Tip Ranks·- The S&P 500 and Nasdaq 100 fell over 0.3% as 10-year and 30-year Treasury yields recovered by over four basis points, reducing the attractiveness of equities compared to bonds. - Walmart reported its weakest revenue growth in over six years with U.S. comparable store sales rising only 2.6%, missing the 3.8% expectation. - Walmart stock dropped over 8% and dragged down other consumer stocks like Costco, Amazon, and Home Depot due to pressures on consumer spending.