"S&P 500 Dips Below 5100 as Big Tech Drives Stock Market Decline"

Homebuilder stocks fell as the NAHB/Wells Fargo Housing Market Index remained flat in April, indicating potential demand growth but hesitancy due to uncertainty about interest rates. The higher-than-expected inflation print last week led investors to scale back rate cut expectations, with mortgage rates rising to 6.88%. Builders pulled back slightly on cutting home prices, and the use of sales incentives ticked down to 57% in April from 60% in March.