Dow drops over 350 points, s&p 500 and nasdaq slide as treasury yields move higher amid tax bill debate
- Select a language for the TTS:
- UK English Female
- UK English Male
- US English Female
- US English Male
- Australian Female
- Australian Male
- Language selected: (auto detect) - EN
Play all audios:
12 hours ago DOW DROPS OVER 350 POINTS, S&P 500 AND NASDAQ SLIDE AS TREASURY YIELDS MOVE HIGHER AMID TAX BILL DEBATE By Isabel Wang U.S. stocks opened lower on Wednesday morning as the
selloff in longer-term Treasurys picked up steam. Investors feared President Donald Trump's new tax bill could worsen the country’s deficit following a Moody’s downgrade of the U.S.
credit rating last week. The Dow Jones Industrial Average was falling over 350 points, or 0.8%, to trade at around 42,330 as of 9:32 a.m. Eastern time. The S&P 500 was off 0.6%, at
5,906. The Nasdaq Composite was sliding 0.6%, to trade near 19,033. Republicans in the U.S. House of Representatives on Wednesday were trying to close a deal on the Trump
administration's bill focusing on tax cuts and spending. Bond-market investors increasingly worried it will pile onto the nation’s $36 trillion debt.