Nasdaq slides nearly 2% | ARK Innovation stumbles in tech sell-off | Managing higher capital gains taxes

What looked to be a strong start to May on Wall Street quickly stumbled on Tuesday, with tech stocks leading declines.

VIEW IN BROWSER | SUBSCRIBE TUE, MAY 04, 2021 EVENING BRIEF AS OF TUE, MAY 04, 2021 • 04:51 ET DJIA 34133.03 +0.06% +19.80 S&P 500 4164.66 -0.67% -28.00 NASDAQ 13633.50 -1.88% -261.61   Most Active DOW NAME LAST CHG %CHG AAPL 127.85 -4.69 -3.54% INTC 56.90 -0.36 -0.63% MSFT 247.79 -4.07 -1.62% S&P 500 NAME LAST CHG %CHG AAPL 127.85 -4.69 -3.54% GE 13.12 -0.33 -2.45% F 11.41 -0.22 -1.89% NASDAQ NAME LAST CHG %CHG AAPL 127.85 -4.69 -3.54% AMD 78.61 +0.06 +0.08% INTC 56.90 -0.36 -0.63%   EDITOR'S NOTE What looked to be a strong start to May on Wall Street quickly fizzled on Tuesday, with tech stocks leading declines.   The pullback for tech stocks comes after the megacap names largely reported blowout earnings last week.   Shares of Alphabet and Microsoft were down about 1.6%. Meanwhile, Apple tumbled 3.5%, while Amazon slid 2.2%. The tech giants have struggled to sustain momentum, despite easily beating analysts' projections a week ago.    The failure of stocks to build on strong earnings reports, either immediately or in the following sessions, has been a recurring theme this quarter. The struggles for Snap, one of the worst-performing tech names on Tuesday, are indicative of this trend.   The stock, jumped more than 7% on April 23 after a strong earnings report, rising to more than $61 per share from $57.   However, the company's dramatic fall on Tuesday erased what was left of that post-earnings pop.   "There's a 'buy the rumor, sell the fact' aspect to earnings," Stifel's Barry Bannister said on "The Exchange." "We know the earnings were great, and the market saw that. That's why it ran up November to April."   The Nasdaq Composite closed down nearly 1.9%, while the S&P 500 fell about 0.7%. The Dow Jones Industrial Average was flat, up just over 19 points.   Jesse Pound | CNBC Markets Reporter @jesserpound TOP NEWS  S&P 500 ends day 0.7% lower, Nasdaq sheds nearly 2% for worst day since March Treasury Secretary Yellen says rates may have to rise somewhat to keep economy from overheating Jamie Dimon, fed up with Zoom calls and remote work, says commuting to offices will make a comeback Biden's new Covid vaccination goal is for 70% of adults to have at least one shot by July 4 Dogecoin surges 30% to a record above 50 cents as speculative crypto trading continues Goldman Sachs CEO is summoning workers back to the office by June 14 RBC raises S&P 500 forecast, sees the market gaining another 3% from here Wealthy investors may be in for a capital gains tax hike. Here's how they'll manage Solar stocks get slammed as supply chain bottlenecks hit renewables sector Cathie Wood's ARK Innovation ETF drops nearly 5% amid tech sell-off, is now off 30% from high   TOP VIDEO Cramer on prospects for returning to work as vaccine rollout continues   CNBC PRO This environmentally conscious portfolio beats the market, says UBS   SPECIAL REPORTS Dogecoin is blowing up. Invest with caution The market for shares of pre-IPO giants is surging. This company is reaping the rewards   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS