US Stock Markets Today: US stocks slide lower after recent gains, while technology stocks slide

The US stock market is trading lower on Thursday after mixed earnings reports from Walmart and other major companies. The country is also feeling pressure from oil prices, which have risen due to renewed concerns about a possible conflict between the United States and Iran.The S&P 500 fell 0.4%, possibly heading for its first loss in four days. The Dow Jones Industrial Average was down 257 points, or 0.5%, at 9:35 a.m. Eastern Time, and the Nasdaq composite was 0.6% lower.

Booking Holdings fell 8%, although the company behind the Booking.com, Priceline and OpenTable brands reported last-quarter profit that exceeded analyst expectations. Share prices have been under pressure lately due to concerns that competitors powered by artificial intelligence technology could upend the industry and at some point take away customers.Such concerns have rippled through the U.S. stock market lately, hitting industries as diverse as software and legal services and trucking logistics. Investors have punished the shares of companies deemed threatened so suddenly and aggressively that analysts have likened it to a “shoot first, ask questions later” mentality.

Carvana fell 4.3% despite reporting stronger earnings for the latest quarter than analysts expected. Investors may have paid more attention to the auto retailer’s profit per vehicle sold, which was lower than expected.

Walmart helped keep the market in check, which rose 1.6% after swinging between gains and losses in premarket trading. The retail giant delivered stronger results for the end of its latest fiscal year than analysts expected, but also provided a profit forecast for the coming year that fell short of expectations.

Also on the winning side of Wall Street was eBay, which rose 2.8% after reporting stronger earnings and revenue than analysts expected. It also said it bought second-hand fashion marketplace Depop from Etsy for about $1.2 billion in cash. The deal could help eBay find younger customers. The biggest gains on Wall Street came from oil company stocks, which rose as the price of crude rose more than 1.5%. A barrel of US crude rose above $66 as concerns about a possible military confrontation between the United States and Iran rise again.

President Donald Trump has increased pressure on Iran, which is home to some of the world’s largest oil reserves, over its controversial nuclear program. If a conflict were to break out, it could limit the global oil flow.

Occidental Petroleum rose 8.7% after also reporting stronger earnings for the latest quarter than analysts expected.

In the bond market, Treasury yields remained relatively stable after a report showed the number of U.S. workers filing for unemployment benefits declined last week. That could be a signal that the pace of layoffs is slowing.

A solid labor market, in turn, could keep the Federal Reserve on hold longer before resuming its interest rate cuts. Fed officials said at their latest meeting that they want to see inflation fall further before supporting further rate cuts this year.