US Stocks Fall, Gold and Bitcoin Rise as Bessent’s Rescue Fails

The failure of two Treasury rescue attempts to move yields is the real signal here: fiscal policy is losing traction over the bond market, which is why capital is drifting toward gold and bitcoin rather than waiting for a policy fix. Walmart's guidance adds a demand-side worry on top of the deficit and inflation story, so the same assets are being bid for two different reasons at once. The open question is whether that correlation holds if yields keep climbing — gold and bitcoin rising together says less about either asset than about what investors are hedging against.