Morning Report 21 Feb 25: US stocks fall on Walmart’s warning as big banks sink

US stocks fell as Walmart’s profit forecast missed expectations amid slowing growth, while Palantir shares fell as the Pentagon planned budget cuts. Alibaba surged on an e-commerce and cloud revival, and Hasbro gained on a profit beat. Meanwhile, US banks underperformed, heading for their worst drop in two months, and European stocks declined ahead of the German election. Oil extended its rally for a third straight day, while gold soared to fresh record highs. In Australia, shares are expected to snap a four-day losing streak, with the Aussie dollar rising as the US dollar weakened on tariff fatigue.

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