Wall Street slips as growth stocks struggle amid rising bond yields

Tesla gains on surge in China sales, UBS upgrade; 10-year Treasury yield up at 3.04%; Brent above $123 a barrel

Wall Street's main indexes slipped in choppy trading on Thursday as technology and growth stocks struggled for direction amid rising bond yields and weaker risk appetite on concerns around surging inflation and aggressive interest rate hikes.
 

Nine of the 11 major S&P sectors declined in morning trade, with energy and materials among the biggest losers. Defensive consumer staples sector was the top gainer, up 0.5%.
 

Apple Inc and Amazon.com fell 1%, dragging the S&P 500 and the Nasdaq indexes lower. Bank of America slipped 1.7%, while the broader banks index shed 1.2%.
 

Rate-sensitive growth stocks are under pressure from the