U.S. stocks slid Thursday as the initial Treasury rally evaporated and yields reversed higher mid-session. The Nasdaq fell 0.7% while the S&P 500 declined 0.4%, as rising bond yields, Iran tensions, and weak retail earnings from Walmart pressured the tape. Oil surged 2.4% on geopolitical concerns.
→ Close-of-day Treasury auction sentiment—if yields hold above 4.65%, expect continued equity pressure into the final hour.
→ Russell 2000 resilience: small caps gained 0.5% mid-session, signaling some flight from mega-cap tech; watch if that trade sustains.
→ Deere (DE) and Ross Stores (ROST) earnings after hours; retail read-through critical given Walmart's miss.