U.S. stocks closed sharply lower on Thursday, with the Dow Jones Industrial Average falling about 704 points to 52,759.21 for its worst session since July 29. The S&P 500 declined 0.87% to 7,641.16 and the Nasdaq Composite dropped 1% to 26,067.17. Walmart shares fell more than 9% after the retailer reported its slowest domestic sales growth in six years, weighing on the Dow. Treasury yields continued to rise despite the Treasury saying it would at least double repurchases of 10-, 20- and 30-year debt in the coming months; Treasury Secretary Scott Bessent said the operation could exceed the announced $4 billion. Initial U.S. jobless claims fell by 6,000 to 206,000 in the second week of August, below the 210,000 market estimate, while the Philadelphia Fed Manufacturing Index rose to 47.4 in August from 41.4, its highest level since April 2021 and above expectations of 25. Health care, consumer discretionary and consumer staples led declines among S&P 500 sectors, while energy and real estate gained. Investors were awaiting earnings from BJ's Wholesale Club Holdings Inc. and KE Holdings Inc. The CNN Money Fear and Greed Index fell to 52.5 from 57, moving into the Neutral zone. The index measures market sentiment on a 0-to-100 scale using seven equally weighted indicators, with 0 representing maximum fear and 100 maximum greed.