Deckers, SoundHound AI, Boeing, and More [Video]

U.S. equities tumbled and the yield on the 10-year Treasury note soared at midday Wednesday after the Labor Department reported consumer prices rose more than expected in March. The Dow, S&P 500, and Nasdaq were all down over 1%.

Concerns about the Federal Reserve’s reaction to the inflation news dragged down tech stocks, which are especially impacted by higher borrowing costs.

Deckers Outdoor (DECK) shares sank as Truist downgraded the stock and lowered its price target, citing weakening demand for the company’s Hoka athletic shoe.

Shares of Boeing (BA) also fell after a whistleblower claimed the plane maker took shortcuts in building 787 and 777 jetliners. 

SoundHound AI (SOUN) shares lost ground as the provider of artificial intelligence products for speech and sound recognition announced a $150 million stock sale.

Axon Enterprise (AXON) shares advanced after Needham raised its price target, saying global demand for the Taser maker’s security products is growing.

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