US equity markets retreated, sliding in the closing hour of the session following a poor Treasury auction and after Federal Reserve Chaine Jerome Powell indicated more work may need to be done to bring down inflation - Dow fell -220-points or -0.65%, with Amgen Inc (down -3.37%), Home Depot Inc (-2.72%) and Walgreens Boots Alliance (-2.62%) all declining over >2.5%. Bloomberg reported that Walgreens is to engage in another round of layoffs representing ~5% of the company’s total corporate workforce. However, Walt Disney Co jumped +6.91% after posting a stronger-than-expected third quarter result after the close of the previous session that included better-than-expected subscriber growth for its Disney+ streaming service.
