Episode Details

US stock indices closed lower on Thursday amid concerns that the Treasury’s plan to curb borrowing costs may provide only a short-term fix, while higher energy prices stoked inflation worries. The S&P 500 lost 0.9%, the Nasdaq fell 0.7% and the Dow shed 704 points. Treasury yields rose across the curve as investors worried that the Treasury’s efforts to support notes and bonds could worsen the inflationary backdrop amid ample dollar liquidity. Borrowing costs were also lifted by higher fuel and gas prices after President Trump said the US had entered an “economic war” with Iran, prolonging blockades of tankers crossing the Persian Gulf. Financials were mostly lower, with JPMorgan down 1.6% and Morgan Stanley losing 3.2%. AI hyperscalers also mostly declined following tepid financial results from OpenAI, which failed to grow at the same pace as rival Anthropic. Walmart sank 9.1%, its sharpest single-session decline in four years, after second-quarter sales fell short of expectations.

SPI down 28 - Gold steady - Results in focus

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