Wall Street Slips As Cisco Drags Bond Yields Rise

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– Wall Street’s main indexes dropped on Thursday as U.S. bond yields climbed to a seven-year high and Cisco’s forecast disappointed, while looming Sino-U.S. trade talks added to the jitters.

Shares of Cisco (CSCO.O) fell 3.6 percent and were the biggest drag on all the three major indexes, after the company’s forecast indicated its transition to a software-focused business was a work in progress.

Also weighing was Walmart’s (WMT.N) 1.8 percent fall. The stock was up in premarket trading after the retailer posted a rebound in its U.S. e-commerce business and beat profit estimates.




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