Wall St slips as treasury yields drag on big tech firms

Wall Street's main indexes have fallen, with megacaps under pressure from rising Treasury yields and traders scaling back expectations for an early start to interest-rate cuts ahead of key inflation reports due later this week. Megacap stocks Microsoft, Apple, Tesla and Amazon.com shed between 0.8 per cent and 2.0 per cent, with yields on shorter- and longer-dated US Treasury notes ticking over 4.0 per cent. Nvidia, too, slipped 0.7 per cent after closing at a record high on unveiling new artificial intelligence components. The weakness follows a strong session for Wall Street on Monday, during which the tech-heavy Nasdaq jumped…