U.S. stock markets experienced mixed performance following the House of Representatives' approval of President Donald Trump's comprehensive tax and spending bill. On Thursday, stocks initially declined and U.S. long-term Treasury yields surged amid investor concerns over the growing national debt. However, by the end of the trading day, major indices showed little change, with the Nasdaq posting gains while the S&P 500 and Dow Jones Industrial Average fell marginally by less than 0.1%. Treasury yields remained elevated as investors continued to assess the potential economic consequences of the legislation. On Friday, stock index futures were subdued, reflecting ongoing risk aversion driven by worries about the country's fiscal outlook. The bill's passage in the House marks a critical step forward, but market participants remain cautious about its impact on deficits and borrowing costs.
Stocks have suffered this week as deficit worries pushed up Treasury yields, which intensified as Trump's tax bill forged ahead. Wall Street is still weighing the economic impact of Trump's revised bill, which cleared a key hurdle in the House vote for approval. https://t.co/J229GycdtK
Stock index futures were muted Friday as investors were risk-averse. The previous day, President Donald Trump's tax and spending bill won a crucial House vote, raising concerns about the country's deteriorating fiscal outlook. https://t.co/bSgaTlmwHP
Treasury yields remain elevated as investors weigh impact of Trump's tax bill https://t.co/wjWT85YloH