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The S&P 500 ended the day down 0.77 per cent, at 5,199.50. The Dow Jones Industrial Average fell 0.60 per cent to 38,763.45. Meanwhile, the tech-rich Nasdaq Composite lost 1.05 per cent to 16,195.81 read more
 "Wall Street indices slip after midday reversal; Disney, Nvidia shares drop")
Major Wall Street indices dipped in the red in response to global markets. Agencies
Wall Street equity indices closed lower on Wednesday (August 7) after a volatile session, following a rally in European and Asian markets that ultimately lost momentum amid persistent unease from recent market turbulence.
The benchmark S&P 500, which opened higher, started losing ground in the late morning and declined further after a US 10-year Treasuries auction. The S&P 500 ended the day down 40.53 points, or 0.77 per cent, at 5,199.50.
The Dow Jones Industrial Average fell 234.21 points, or 0.60 per cent, to 38,763.45. Meanwhile, the tech-heavy Nasdaq Composite lost 171.05 points, or 1.05 per cent, to 16,195.81.
Market movers
Airbnb shares slumped 13.4 per cent after the company reported lower-than-expected profits and warned of “some signs of slowing demand from U.S. guests.”
Disney fell 4.5 per cent despite posting better-than-expected earnings, as investors absorbed comments about a potential weakening in demand in the parks business that “could impact the next few quarters.”
Nvidia, one of Wall Street’s most influential companies, saw its shares swing from a morning gain of 4.4 per cent, boosting the S&P 500, to a loss of 5.1 per cent, making it the heaviest weight on the index.
Bond market dynamics
US government bond yields rose after the Treasury Department experienced soft demand for a $42-billion sale of 10-year notes. Companies also rushed to sell debt as risk appetite improved. The supply was the main focus, with traders awaiting fresh economic data for insights into the strength of the U.S. economy.
The yield on benchmark U.S. 10-year notes increased by 7 basis points to 3.958 per cent, up from 3.888 per cent late on Tuesday. The 30-year bond yield rose 8.1 basis points to 4.2579 per cent.
The two-year note yield, which typically moves in step with interest-rate expectations, fell 0.2 basis points to 3.9827 per cent, down from 3.985 per cent late on Tuesday.
As markets continue to navigate recent volatility, investors remain cautious, balancing corporate earnings reports against broader economic signals and the evolving dynamics in the bond market.
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English (US) ·