U.S. stock markets experienced a decline as Wall Street closed lower, primarily due to rising Treasury yields that pressured megacap stocks. Investors are increasingly cautious regarding potential future rate cuts from the Federal Reserve, leading to tempered expectations. The Nasdaq initially ended higher as investors digested earnings reports and yield movements, but concerns surrounding technology sector losses and interest rate fluctuations ultimately weighed down the market. The overall sentiment reflects a growing unease among investors about the economic outlook and monetary policy direction.