Stocks Retreat as Earnings Woes, Rate Fears Weigh Despite Solid Economic Data

The stock market rally came under pressure amid higher Treasury yields and disappointing earnings reactions. Major indexes like the Nasdaq and Dow Jones fell sharply.

Retail sales and jobs data remained strong, stoking inflation and rate hike fears. But rising mortgage rates hit home sales.

Tesla earnings missed views as Elon Musk warned of production challenges. Nvidia fell on tighter China export controls.

Transportation firms like CSX and JB Hunt reported lower volumes. Medical firms Johnson & Johnson and Abbott topped views.

Stocks like Netflix, Taiwan Semi and American Express beat earnings expectations. But stocks like Morgan Stanley and Terex fell sharply on results.