Stock Market Winners & Losers: Stocks Fall on Higher Rates & Rising Oil Prices | Tesla Makes Its Biggest Cybertruck Recall Yet | Taylor Swift Becomes Richest Female Musician Worth $1.6B
Stocks fell as Wall Street struggled to maintain momentum, with higher interest rates and rising oil prices weighing on the market. The 10-year Treasury yield hit 4.02%, while U.S. crude rose nearly 2% to over $75 per barrel due to ongoing Middle East tensions.
Tesla faced more challenges, recalling 27,000 Cybertrucks due to a delayed rearview-camera display. This marks the fifth recall for the truck, with the $100K mid-range model now being the most affordable option after Tesla discontinued its $60K entry-level version.
In entertainment, Taylor Swift surpassed Rihanna as the world’s richest female musician, with a net worth of $1.6 billion. Swift's fortune comes from her music catalog, touring, and real estate investments. She will wrap up her record-breaking "Eras Tour" later this year. Meanwhile, Folie à Deux earned $40 million, less than half the first film's box office, despite triple the budget.
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