Treasury Yields Rise, S&P 500 Extends April Slide.

Stocks mostly slumped and bond yields rose as investors adjusted to the possibility that interest rates may not decrease this year. The S&P 500 and Nasdaq Composite both experienced declines in April, while the Dow Jones Industrial Average saw a small gain. The yield on 10-year Treasury notes increased. The stock market has been selling off since last week when inflation data indicated that the rate of inflation may not reach the Federal Reserve's target. The prospect of higher rates has affected technology stocks and rate-sensitive sectors. The S&P 500 remains higher than it was in October, but the question now is how much stocks should decrease if their rise was based on lower rates. Economic data suggests that high borrowing costs have not significantly impacted the economy. Quarterly results drove significant movements in individual stocks, with Genuine Parts and Alaska Air reporting positive earnings. Cocoa prices reached a record high due to poor growing weather and increased speculation. Copper futures also rose to a two-year high. Overseas, stocks mostly rose in Japan, Hong Kong, Germany, and London. [Extracted from the article]