The Dow Jones Industrial Average fell 1.1%, and the S&P 500 index dropped 1.2%. Major tech stocks broadly declined, with Tesla down about 4% after its first-quarter deliveries missed expectations; Alphabet A fell about 2%, and Nvidia dropped around 2%. Chinese concept stocks also fell broadly, with Alibaba down about 3%. Blue Owl shares declined about 6% after the company capped redemptions for two private credit funds at 5%.