The relief that swept the bond market just a day earlier disappeared as oil prices, worries about high inflation and the U.S. government’s debt kept rising.
That helped knock the U.S. stock market to its worst loss in three weeks on Thursday, and Walmart led the way on concerns about its upcoming profits.
Treasury yields climbed after the price of Brent crude rose 2.4% following President Donald Trump’s latest threat to Iran.
On Thursday:
The S&P 500 fell 66.82 points, or 0.9%, to 7,641.16.
The Dow Jones Industrial Average fell 703.84 points, or 1.3%, to 52,759.21.
The Nasdaq composite fell 263.92 points, or 1%, to 26,067.17.
The Russell 2000 index of smaller companies fell 40.51 points, or 1.3%, to 2,992.43.
For the week:
The S&P 500 is down 144.60 points, or 1.9%.
The Dow is down 973.20 points, or 1.8%.
The Nasdaq is down 662 points, or 2.5%.
The Russell 2000 is down 75.98 points, or 2.5%.
For the year:
The S&P 500 is up 795.66 points, or 11.6%.
The Dow is up 4,695.92 points, or 9.8%.
The Nasdaq is up 2,825.18 points, or 12.2%.
The Russell 2000 is up 510.53 points, or 20.6%.
