Markets were weaker on Wednesday, with losses touching nearly all of the sectors on the Standard & Poor’s 500 amid downbeat retail earnings and further as losses in bond yields came amid economic worries.

The S&P’s consumer discretionary group fell 0.7% and staples lost 0.5% in some of the sharpest declines among the sectors. The Dow Jones Industrial Average was dented by losses for 25 of its 30 blue chips, falling to the lowest level on a closing basis in more than three months.

Capri Holdings (CPRI), the parent of brands including Jimmy Choo and Michael Kors, sank 10% in the biggest loss on the S&P 500 after fiscal fourth-quarter results narrowly beat analysts’ expectations but the company offered downbeat guidance. Abercrombie & Fitch (ANF) plunged 25% after the trendy apparel seller missed Street expectations on its current-quarter comparable sales.

The results weighed on rival retailers, with American Eagle Outfitters (AEO) down 5.8%, L Brands (LB) falling 6.3% and Chico’s FAS (CHS) dropping 6%.

Losses continued in benchmark Treasury yields, with the 10-year falling about four basis points to 2.23%, sending prices higher in the move toward haven investments as worries continue to weigh on sentiment about US-China trade tensions and European uncertainty.

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While the market’s declines piled up, Nomura Instinet’s Masanari Takada said the pattern in global equity sentiment “gives no sign of the sort of irregular behavior that could lead to a rapid deterioration,” according to a note. “Sentiment does not appear to be out of control, and this latest selloff could even be viewed as orderly. In other words, it looks likely that global equities are now passing through an entirely predictable second wave of selling.”

In other company news, Amarin (AMRN) jumped 14% after the Food and Drug Administration granted a priority review to its supplemental new drug application for Vascepa for cardiovascular risk reduction. Marvell Technology Group (MRVL) gained 2.5% after selling its WiFi connectivity business to NXP Semiconductors (NXPI) in an all-cash transaction valued at $1.76 billion.

The light economic calendar had the Richmond Fed manufacturing index, which edged up two points to a five print in May, though that missed expectations for a reading of six.

In morning trading, the Dow and the Nasdaq were both down 0.8% and the S&P 500 was 0.7% lower. Globally, the Shanghai Composite rose 0.2%, the Hang Seng fell 0.6% and the Nikkei 225 was down 1.2%.

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