Financial Markets Wall Street

Wall Street pulled further from its all-time high as AI stocks got back to sinking. The S&P 500 fell 0.7% Tuesday for a third straight modest loss since setting its all-time high on Thursday. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite sank 1.3%. Nvidia, Micron Technology and Broadcom were some of the heaviest weights on the market amid criticism that their prices shot too high in the frenzy around AI. Treasury yields held relatively steady in the bond market, while stock indexes were mixed in Europe and Asia.

U.S. stocks rose after the Treasury Department made a move to ease pressure emanating from the bond market. Strong profit reports for the spring from Target and other U.S. companies also helped support the stock market Wednesday. The S&P 500 rose 0.2% for its first gain in four days after setting its all-time high last week. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite gained 0.2%. Yields sank in the bond market after the Treasury Department said it will at least double the size of its purchases of longer-term Treasurys. Yields had been climbing on inflation worries and other concerns.

A rise in oil prices on Thursday is sending worries about inflation and yields in the bond market higher, erasing some of the relief the U.S. Treasury Department created the day before. The higher yields and a big drop for Walmart helped drag the U.S. stock market lower. Brent crude's price rose 2% Thursday following President Donald Trump’s latest threats to Iran. The S&P 500 fell 0.7% and is on track for a fourth loss in the five days. The Dow Jones Industrial Average dropped 612 points, and the Nasdaq composite sank 1.2%. Walmart helped lead the way lower after giving a weaker-than-expected forecast for upcoming profit.