US stocks slipped again on Thursday, extending a run of modest losses that began after last week’s record high. The S&P 500 eased 0.3%, putting it on track for a fifth straight decline. The Dow Jones Industrial Average shed 236 points, or 0.5%, while the Nasdaq composite was down 0.1% in early New York trading, AP reported.Walmart was the biggest drag on the market, dropping 4% after its spring quarter profit came in weaker than analysts had projected. The retail giant reported solid revenue growth and raised its full-year profit guidance, but expectations had been high going into the earnings release. The Arkansas-based company’s stock had already gained 13.5% this year, well above the broader market.Investors continued to scrutinise Big Tech valuations, questioning whether stock prices had risen too far on artificial intelligence excitement. Several AI-linked companies have swung sharply this week, cooling some of the frenzy. On Thursday, Palantir Technologies slipped 0.2% after back-to-back steep losses earlier in the week, while chipmaker Nvidia added 0.6%.Coty sank 20.6% after posting a quarterly loss instead of the slight profit Wall Street had expected. The beauty products maker, whose brands include CoverGirl and Joop!, cited tariff uncertainty and weak retailer orders. On the upside, Nordson rose 7.4% after both profit and revenue for the quarter topped forecasts.In the bond market, Treasury yields edged higher even as fresh data pointed to economic softness. Weekly jobless claims rose, hinting at potential layoffs, while a mid-Atlantic manufacturing survey showed contraction. The 10-year Treasury yield inched up to 4.30% from 4.29%, and the two-year yield rose to 3.75% from 3.74%.Wall Street continues to expect the Federal Reserve to cut rates in September, which would be its first move this year. A rate cut could support growth by lowering borrowing costs for homes, cars, and business investment, though it risks fuelling inflation. Investors are watching closely for signals from Fed Chair Jerome Powell, who will speak at the Jackson Hole central banking conference on Friday.In Europe, Germany’s DAX slipped 0.3% after US and EU officials outlined a trade framework. Asian markets were mixed, with Japan’s Nikkei 225 down 0.6% following a survey that showed factory activity contracted again in August.
