Finance

Walmart stock suffered a severe drop of over 9%, marking its worst trading day in four years despite an upward revision to its full-year outlook. The retail bellwether missed Wall Street expectations for domestic quarterly comparable sales and customer traffic. Company executives noted that elevated gasoline prices are beginning to exert a psychological toll on broader consumer spending habits.

Crude oil benchmarks advanced notably following direct economic warnings issued by the U.S. administration toward Iran amid stalled maritime negotiations. Brent crude futures increased 2.4% to reach $93.78 per barrel, while West Texas Intermediate futures climbed near $88.15. The energy sector stood out as the top performer within the S&P 500, contrasting with steep losses in travel and consumer discretionary equities.

Digital assets decoupled from the broader market downturn as Bitcoin surged past the $75,000 threshold for the first time since May, while Ether posted double-digit percentage gains. The rally was heavily driven by political momentum after a White House summit where the administration urged Congress to pass the industry-favored CLARITY Act. Digital asset firms and crypto-tied stocks experienced significant upward movements in tandem with the underlying tokens.