Stocks are in freefall as the S&P 500 faces its fourth drop in five weeks and the Dow plummets over 600 points, with Aussie futures mirroring the gloom. High Treasury yields—now at a one-year high—are chilling economic growth by hiking borrowing costs. Despite hopes for relief, the U.S. national debt just hit $40 trillion, fueling renewed yield spikes amid strong job and manufacturing data. Retail giants like Walmart and Advance Auto Parts nosedive on profit reports and weak consumer demand, while travel stocks brace for fewer bookings amid rising fuel prices. Meanwhile, Deere and energy firms soar, proving even in downturns, some sectors thrive.
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