--- title: "US STOCKS-Wall Street retreats as higher yields, Tesla dampen sentiment" description: "Wall Street's main indexes dropped due to rising Treasury yields and Tesla's disappointing Q1 deliveries. Rate-sensitive growth stocks, such as Nvidia, Microsoft, and Amazon, also declined. The focus " type: "news" locale: "en" url: "https://longbridge.com/en/news/201178421.md" published_at: "2024-04-02T16:33:44.000Z" --- # US STOCKS-Wall Street retreats as higher yields, Tesla dampen sentiment > Wall Street's main indexes dropped due to rising Treasury yields and Tesla's disappointing Q1 deliveries. Rate-sensitive growth stocks, such as Nvidia, Microsoft, and Amazon, also declined. The focus is now on Friday's U.S. non-farm payrolls data and the possibility of interest rate cuts by the Federal Reserve. Health insurers, including UnitedHealth, CVS Health, and Humana, saw their shares fall as reimbursement rates for Medicare Advantage health plans remained unchanged. Calvin Klein-parent PVH Corp forecasted an 11% drop in Q1 revenue, leading to a significant decline in its shares. Cryptocurrency and blockchain-related stocks also fell. (For a Reuters live blog on U.S., UK and European stock markets, click (LIVE/) or type LIVE/ in a news window.) US health insurers drop after Medicare rates disappoint Tesla slides after Q1 deliveries miss Calvin Klein-parent PVH down after dour FY revenue forecast Indexes down: Dow 1.19%, S&P 1.00%, Nasdaq 1.32% (Updated at 11:56 a.m. ET/ 1556 GMT) By Sruthi Shankar and Shashwat Chauhan April 2 (Reuters) - Wall Street’s main indexes dropped on Tuesday, dragged down by rising Treasury yields and Tesla, as recent strong economic data fueled uncertainty about the timing of interest rate cuts from the Federal Reserve. Shares of rate-sensitive growth stocks including Nvidia (NVDA.O) , Microsoft (MSFT.O) and Amazon.com (AMZN.O) fell 0.7% - 1.4% as the U.S. Treasury 10-year yield (US10YT=RR) rose to 4.365%, its highest this year. (US/) Tesla (TSLA.O) also tumbled 5.0% after the automaker missed market expectations for first-quarter deliveries. The Dow (.DJI) and S&P 500 (.SPX) closed lower on Monday after stronger-than-expected manufacturing data from the Institute for Supply Management (ISM) raised doubts over the Fed’s three interest rate cuts it had outlined at the last policy meeting. “ISM creeped above 50 for the first time in 17 months and that should be a good thing, it shows resiliency of the U.S. economy,” said Hugh Anderson, managing director at HighTower Advisors in Las Vegas, but since it diminishes hopes of rate cuts in June, “the market is taking it in a negative fashion.” “Right now, the fundamentals are supportive of rates staying where they are and possibly even nudging higher.” The CBOE Volatility index (.VIX) , also known as Wall Street’s ‘fear gauge’, touched an over two-week high. Data on Tuesday showed new orders for U.S.-manufactured goods rebounded more than expected in February, while U.S. job openings held steady at higher levels. Now the focus is on Friday’s U.S. non-farm payrolls data, which is likely to show job additions slowed in March although average earnings ticked higher compared to the previous month. Traders are pricing in a near 57% chance of the Fed cutting interest rates by at least 25 basis points in June, down from 64% just a week ago, as per CMEGroup’s FedWatch tool. A slew of Fed officials including New York Fed President John Williams, Cleveland Fed President Loretta Mester and San Francisco President Mary Daly are scheduled to speak later in the day. Shares of UnitedHealth (UNH.N) , CVS Health (CVS.N) and Humana (HUM.N) fell between 7.5% and 14.1% as the U.S. government kept reimbursement rates for providers of Medicare Advantage health plans unchanged, in a setback to insurers. At 11:56 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 469.83 points, or 1.19%, at 39,097.02, the S&P 500 (.SPX) was down 52.53 points, or 1.00%, at 5,191.24, and the Nasdaq Composite (.IXIC) was down 216.89 points, or 1.32%, at 16,179.95. Nine of the 11 major S&P 500 sectors were trading lower, with the health care index (.SPXHC) , down 1.9%, on track for its biggest percentage drop of the year. Calvin Klein-parent PVH Corp’s shares (PVH.N) tumbled 23.3% after the retailer forecast an about 11% drop in first-quarter revenue. Peer Ralph Lauren (RL.N) dropped 5.1%. Cryptocurrency and blockchain-related stocks dropped, tracking an over 6% fall in bitcoin (BTC=) . Exchange operator Coinbase (COIN.O) , bitcoin investor MicroStrategy (MSTR.O) and crypto miner Riot Platforms (RIOT.O) fell between 3.5% and 8.0%. Declining issues outnumbered advancers for a 3.77-to-1 ratio on the NYSE and for a 3.40-to-1 ratio on the Nasdaq. The S&P index recorded 22 new 52-week highs and 3 new lows, while the Nasdaq recorded 39 new highs and 93 new lows. ### Related Stocks - [NVDA.US - NVIDIA](https://longbridge.com/en/quote/NVDA.US.md) - [HUM.US - Humana](https://longbridge.com/en/quote/HUM.US.md) - [UNH.US - Unitedhealth](https://longbridge.com/en/quote/UNH.US.md) - [BND.US - Vanguard Total Bond Market ETF](https://longbridge.com/en/quote/BND.US.md) - [TSLA.US - Tesla](https://longbridge.com/en/quote/TSLA.US.md) - [NVDL.US - GraniteShares 2x Long NVDA Daily ETF](https://longbridge.com/en/quote/NVDL.US.md) - [SOXL.US - Direxion Semicon Bull 3X](https://longbridge.com/en/quote/SOXL.US.md) - [AMZN.US - Amazon](https://longbridge.com/en/quote/AMZN.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 机构 “最超配” 闪迪，“最低配” 英伟达 | 据摩根士丹利最新的统计：“机构对美国大型科技股的低配程度是 17 年来最大的” 相比 2025 年 Q4 的标普 500 指数权重，“$NVDA 仍然是机构低配程度最大的大型科技股，其次是苹果、微软、亚马逊和博通，而存储巨头闪迪则是 “最超 | [Link](https://longbridge.com/en/news/276289765.md) | | 休曼纳｜10-K：2025 财年营收 1287 亿美元不及预期 | | [Link](https://longbridge.com/en/news/276370855.md) | | LPDDR 6 时代来临！AI 需求太猛，下一代 DRAM 将比预期更快进入市场 | LPDDR6 性能较前代提升 1.5 倍，最快下半年正式商用，英伟达、三星及高通等巨头正积极布局。目前多数 HPC 半导体设计企业考虑并行搭载 LPDDR5X 及 LPDDR6 IP，特别是在 4 纳米及以下先进制程芯片的设计中，需求出现得 | [Link](https://longbridge.com/en/news/276431575.md) | | 沃尔玛四季度财报超预期但盈利指引不及预期，CEO 称 “美国低收入家庭只能勉强维持生计” | 沃尔玛 Q4 营收超预期，新财年盈利指引（每股 2.75-2.85 美元）远低于市场预期的 2.96 美元，显示通胀压力下消费者支出不确定性犹存，拖累股价下跌 1.38%。财报印证 K 型” 分化：高收入家庭驱动增长，低收入群体 “钱包吃紧 | [Link](https://longbridge.com/en/news/276398633.md) | | 缺电、缺水、缺人还抢地！美国数据中心建设狂潮面临阻力 | 科技巨头掀起的数据中心基建狂潮正遭遇严峻 “现实墙”：从电网容量、水资源瓶颈到技术工人短缺，执行风险急剧上升。亚马逊等巨头以惊人高价抢地，直接挤压住宅开发，甚至斥资 7 亿美元购入原定建房的地块。这场资源竞赛不仅推高了运营成本，更可能拖累 | [Link](https://longbridge.com/en/news/276290793.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.