Nasdaq, SandP hit 1-month lows.

The SandP 500 and the Nasdaq dropped to a more than one-month low on Thursday as a jump in Treasury yields knocked down growth stocks after the Federal Reserve signaled another rate hike this year.

Rate-sensitive stocks including Tesla, Meta Platforms, Amazon.com, Alphabet, and Nvidia fell between 1.9 percent and 3.3 percent as the two-year and 10-year Treasury yields scaled multi-year highs. Semiconductor firm Broadcom fell 3.7 percent, pulling the Philadelphia chip index down 1.2 percent, after a report showed Google executives had discussed dropping the company as a supplier of artificial intelligence chips as...