01:03 PM EDT, 04/24/2024 (MT Newswires) -- US equity indexes fell, led by industrials and communication services, while government bond yields jumped after midday on Wednesday.

The S&P 500 fell 0.4% to 5,050.6, with the Dow Jones Industrial Average down 0.4% to 38,335.6, and the Nasdaq Composite 0.3% lower to 15,649.7. Industrials, communication services, and materials led the decliners intraday.

In economic news, new orders for US durable goods rose 2.6% in March following a downwardly revised gain of 0.7%, above expectations for a 2.5% increase in a survey compiled by Bloomberg. Excluding a 7.7% jump in transportation orders, new orders would have been up only 0.2% in March, as expected after a 0.1% increase in February.

The US 10-year Treasury yield jumped 5.2 basis points to 4.65%, and the two-year rate advanced 2.4 basis points to 4.93%.

In company news, Hasbro ( HAS ) reported Wednesday stronger-than-expected Q1 results while affirming its full-year outlook. Shares soared 10.8% intraday, the leader on the S&P 500.

Tesla's (TSLA) shares jumped 9.8% intraday, among the top performers on the S&P 500 and the Nasdaq, after the electric vehicle maker disclosed plans to launch new models earlier than expected, softening the blow from its weaker-than-anticipated first-quarter results.

Teledyne Technologies ( TDY ) reported Q1 adjusted earnings and sales that missed analyst estimates and lowered its 2024 adjusted EPS guidance. Shares sank 11.5%, the worst performer on the S&P 500.

Old Dominion Freight Line ( ODFL ) reported Q1 earnings in line with estimate, but its sales growth lagged the market consensus. Shares sank 10.7% intraday, the second-worst performer on the S&P 500.

Meanwhile, West Texas Intermediate crude oil fell 0.8% to $82.66 a barrel.