Nasdaq, S&P 500 fall as growth shares lose steam, mixed Q1 results by banks

Twitter rises on Elon Musk's $41-bn buyout offer'; Morgan Stanley, Citi rise after results; Wells Fargo slips after quarterly profit drops

The Nasdaq and the S&P 500 fell on Thursday as rising yields weighed on megacap growth stocks, while a slew of Wall Street lenders reported mixed earnings on the last day of a holiday-shortened week.

Twitter Inc gained 2.9% after Tesla Inc CEO Elon Musk offered to buy the social media company for about $41 billion. The electric-car maker's shares fell 2.9%.

Six of the 11 major S&P 500 sectors declined in early trading, with technology and consumer discretionary stocks leading losses.

Megacap growth names such as Amazon.com Inc and Apple Inc fell about 1% each as Treasury yields rose after data showed