Treasury Yields Surge, US Stocks Retreat Amid Tech Sell-Off

US stocks retreated on Tuesday as surging Treasury yields put pressure on markets. The S&P 500 fell 0.67% to 7,353.61, the Nasdaq Composite slid 0.84% to 25,870.71, and the Dow Jones Industrial Average lost 0.65% to 49,363.88.

Micron Technology (MU) bucked the trend, rising despite a wider chip stock sell-off as key analysts increased their price targets for the stock. Nvidia (NVDA) and Advanced Micro Devices (AMD), however, slipped, weighing on tech benchmarks.

Home Depot (HD) edged upwards on solid Q1 earnings, while Walmart and Target both rose ahead of earnings due this week.