Wall Street ends in red as rising yields, surging oil prices dampen sentiment

Wall Street declined on Thursday after weak earnings report from hypermarket chain Walmart, increasing oil prices and rising bond yields despite the Treasury Department's intervention.

The Dow Jones Industrial Average slid 1.32% to settle at 52,759.21, while tech-heavy NASDAQ dropped 1% to 26,067.17. The S&P 500 fell 0.87% to 7,641.16.

Walmart shares declined 9.15% as the company's sales at the US stores open at least a year, excluding fuel, advanced 2.6% in the second quarter. This was below the street estimates. The growth was hindered by just 0.8% rise in the pharmacy business as price caps on certain drugs took effect.

Amazon, Home Depot and American Express also fell 2.16%, 2.85% and 2.57%, respectively.

Brent Crude, the international standard, rose 0.04% to $93.81 per barrel after United States President Donald Trump announced "most crushing economic operation" against Iran.

"Today, I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences. Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are. This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," he said.

Bond yields continued their upturn on Thursday, with the 10-year Treasury rising above the level it was at before the US Treasury Department announced that it will at least double the repurchase of 30-, 20- and 10-year debts. The present maximum size of $2 billion per operation will be at least $4 billion per operation, the Treasury Department said.

Stocks that climbed on Thursday include Micron Technology, Marvell Technology, Western Digital Corp, PayPal Holdings Inc, SanDisk Corporation, Coca-Cola Co, Yum! Brands Inc, The Walt Disney Company and McDonald's Corp, among others.