Why Tesla, Broadcom, and Rivian Fell Today as Treasury Yields Shot Higher

Treasury yields continued to surge on sticky inflation data, dragging the market down today. Tech and artificial intelligence (AI) stocks bore the brunt of the sell-off, as the Nasdaq Composite fell nearly 2%, more than the other major market indexes.Shares of electric vehicle makers Tesla (TSLA -4.06%) and Rivian Automotive (RIVN -4.87%) fell roughly 4% and 5%, respectively. Meanwhile, shares of artificial intelligence semiconductor company Broadcom (AVGO -3.29%) fell 3.3%.High yields not going awayWith th ...