"Stocks Drop as Yields Rise: Wall Street Slides on Big Bank Declines and Tesla Threat"

Wall Street's main indexes fell as banks faced pressure following mixed earnings from Goldman Sachs and Morgan Stanley, while Tesla and Apple also weighed down the market. Tesla dipped after CEO Elon Musk expressed discomfort with growing the company without at least 25% voting control, and Apple slipped after offering rare iPhone discounts in China. Goldman Sachs reported a 51% rise in profit, while Morgan Stanley's profit declined despite surpassing revenue expectations. The broader banks index slid to an over one-month low, and the market continues to price in a 70% chance of a Federal Reserve rate cut in March.