"Yields Rise as Stock Market Closes Lower to Start New Quarter"

The Dow and S&P 500 closed lower as stronger-than-expected manufacturing data raised concerns about the timing of Federal Reserve interest rate cuts, leading to higher Treasury yields. The Nasdaq edged higher, with chip stocks advancing, while AT&T shares slipped after the company reported a data leak. The Institute for Supply Management's manufacturing PMI increased to 50.3 in March, signaling a potential recovery in the manufacturing sector. The U.S. rate futures market indicated a reduced probability of a rate cut in June, and investors await further clarity from Fed officials and the upcoming monthly jobs report.