Wall St rally takes breather as Cisco, Walmart drop

At 9.40am ET, the Dow was down 58.54 points, or 0.17%, at 34,932.67, the S&P 500 was down 2.41 points, or 0.05%, at 4,500.47, and the Nasdaq was down 30.79 points, or 0.22%, at 14,073.05.

BENGALURU: Wall Street's main indices drifted lower on Thursday, weighed down by a drop in shares of Cisco and Walmart following underwhelming forecasts, while optimism around peaking interest rates faded.

Shares of Cisco Systems shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment.