Finance

Walmart shares plunged over 9% after the retail giant missed Wall Street projections for quarterly comparable sales, posting its slowest growth rate in more than six years. Despite beating earnings per share estimates and increasing its full-year guidance, the sales miss weighed heavily on the broader market. Executive commentary highlighting that higher gasoline prices are impacting consumer spending habits further dragged down the consumer staples and discretionary sectors.

Oil prices continued their upward trajectory, with Brent crude futures advancing to $93.78 per barrel and WTI hitting approximately $88.15. The price spikes followed strong statements from President Donald Trump promising severe economic actions against Iran, even as talks to reopen the critical Strait of Hormuz remain deadlocked. The energy sector gained on the news, while travel and airline equities dropped due to concerns over rising fuel costs.

Bitcoin and Ethereum bucked the negative trend seen across the equity markets, staging a powerful rally with Bitcoin crossing the $71,000 threshold. Digital assets received a substantial boost after political pressure built for Congress to advance the Clarity Act, which seeks to clarify regulatory jurisdictions for crypto assets. The positive momentum directly trickled down to digital asset sector equities, causing companies like Coinbase and MARA Holdings to post significant daily gains.