Rivian's stock is being negatively impacted by the overall market weakness, high oil prices, and rising Treasury yields. As Treasury yields rise, safer government bonds become more attractive to investors, making high-growth stocks like Rivian less appealing. This is because they are considered riskier and may not provide as attractive returns in the short term. Furthermore, Rivian's valuation is based on future cash flows, which are impacted when Treasury yields rise, leading to lower present values for future cash flows.