World stocks struggle while the dollar rebounds from three-year lows
New York — A six-day rebound in world stocks sputtered on Tuesday, hurt by rising bond yields and disappointing earnings from US retailers, while the dollar extended a rebound from three-year lows. Pressured by higher yields, Wall Street’s main equity indices fell after six straight days of gains as the market re-opened following the Presidents’ Day holiday on Monday. Shares of the world’s biggest brick-and-mortar retailer Walmart slumped more than 9% after the company reported a lower-than-expected profit and a sharp drop in online sales growth during the holiday period. Shares of other retail majors Target and Costco Wholesale also fell, dragging the S&P consumer staples index down 1.93%. The Dow Jones Industrial Average fell 188.27 points, or 0.75%, to 25,031.11; the S&P 500 lost 10.19 points, or 0.37%, to 2,722.03; and the Nasdaq Composite added 11.76 points, or 0.16%, to 7,251.23. World equity markets also sank, with the MSCI’s gauge of stocks across the globe shedding 0.42%. E...
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