Stocks Drop as Interest Rates Rise and Tesla Reports Decline in Car Deliveries

Investors have had a rough start to April as multiple asset classes experienced declines, including the Dow Jones Industrial Average, S&P 500, and Nasdaq. The Dow has lost 760 points over the first two days of the month, with health insurer UnitedHealth and electric vehicle maker Tesla contributing to the losses. The growing belief that interest rates will remain high for a longer period has also weighed on stock prices, with U.S. Treasury bond yields hitting their highest levels since November. Additionally, crude oil prices rose to their highest levels since late October due to escalating strife in the Middle East.