Wall St slips as higher Treasury yields weigh, Nvidia drops
banks index was down 1.8% while the KBW regional banking index fell 2.0%.hit almost 16-year peaks on Tuesday, with the bond selloff triggered by concerns that the Federal Reserve could keep interest rates elevated for a while given evidence of a strong U.S. economy.
"There's concern about interest rates moving up inflation is going to continue to come down," said Bob Doll, chief investment officer at Crossmark Global Investments. "These uncertainties that frankly were around in July when the market was going straight up, people are paying attention to now and that's the source of the sloppiness."
Wall Street had regained some ground on Monday due to a rally in Nvidia and other tech stocks ahead of the chip designer's second-quarter results on Wednesday. Investors will be keen to see if Nvidia's results and forecast can match heightened market expectations following a blockbuster report last quarter that fueled a blistering rally in tech stocks amid the frenzy around artificial intelligence.Other big technology and growth stocks also pared gains, with Tesla (NASDAQ:
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