Wall Street Rally Stalls as Tech Stocks Retreat Amid Rising Bond Yields

Wall Street’s momentum faltered Tuesday as investors retreated from tech stocks and rising bond yields pressured equities. The Dow Jones Industrial Average dropped 114.83 points (0.27%), while the S&P 500 declined 0.39%, snapping a six-day winning streak. The Nasdaq Composite slid 0.38%, led by losses in chipmakers and megacaps including Nvidia, AMD, Meta, Apple, and Microsoft.

The tech sector was the S&P 500’s worst performer, falling roughly 0.9%. This pullback follows a five-week rebound that lifted the S&P 500 more than 20% from its April low, fueled by Optimism over potential tariff de-escalation after President Trump’s earlier announcement. The index now sits about 3% below its all-time high.

"We’ve had the swoon related to tariffs, the furious rally, and now we’re awaiting clarification," said Bill [surname withheld], capturing the market’s tentative pause. The retreat underscores how quickly sentiment can shift when yields rise and growth stocks lose their luster.