Stocks down due to rising bond yields and weak chip stocks, mixed news across sectors

From Nasdaq:

The S&P 500 is down -0.13%, the Dow Jones is up +0.34%, and the Nasdaq 100 is down -0.73% amid pressure from the 10-year T-note rise and a sell-off in chip stocks. Inflation remains above the Fed’s target, Powell indicates no rate cuts soon, as markets bet on better odds for a rate cut in June. Mortgage applications rise, retail sales and PPI reports awaited, overseas markets mixed. Interest rates up, bond yields higher. Chip stocks slump, Rackspace and Intel down, Tesla hit by downgrade. Tech stocks Alphabet and Amazon up. Lilly initially up but falls, Dollar Tree plunges on missed estimates. Bitcoin hits record high, Coinbase and Marathon Digital up. Earnings reports due from Dollar Tree, Chemours, Petco, Williams-Sonoma, SentinelOne, UiPath, Lennar.



Read more at Nasdaq: Stocks Pressured by Higher T-note Yields and Weak Chip Stocks