US Edition
Wall Street Flips to Losses After Spending Bill Passes the House Raising Anxiety over US Debt
- Before Thursday’s market open, Wall Street shifted from modest advances to declines following the House’s approval of a multitrillion-dollar Republican spending proposal.
- The bill seeks to continue approximately $4.5 trillion in tax breaks established during President Trump's 2017 term, introduce additional tax incentives, and impose stricter requirements on Medicaid and other programs.
- The bill accelerates the reduction of tax incentives for clean energy projects, which led to a sharp decline in solar and health care stock prices.
- The nonpartisan Congressional Budget Office projected that the tax measures would add $3.8 trillion to the federal deficit over the next ten years, while yields on U.S. Treasury bonds climbed noticeably, reflecting investor unease.
- The bill’s passage and rising debt sparked market drops across Asia and Europe, oil prices declined on OPEC+ production talks, and the dollar weakened against the yen, affecting Asian exporters.
54 Articles
54 Articles
'Robin Hood in reverse': Markets 'revolt' as GOP pushes up 'cost of owning home'
Democrats believe the proposed House spending bill will be “responsible for pushing up the cost of owning a home,” according to a Fortune report. The report added that Democrats also believe the bond markets are now revolting “against the prospect of trillions of dollars in new borrowing added on t...
Krem2 News
Wall Street flips to losses after spending bill passes the House raising anxiety over US debt
Markets, already wary over U.S. debt and a recent credit downgrade, dipped Thursday after news broke that a major GOP tax bill had passed the House.
U.S. Debt Punishment Escalates and Drags to Wall Street
The punishment of U.S. Treasury bonds intensified this Wednesday following a debt auction that attracted weak demand and amid concerns about the possible worsening of the U.S. fiscal crisis. 30-year Treasury bond profitability reached 5.096%, very close to the peaks that it briefly touched in 2023 and that, in turn, were the peaks since 2006. That rise in long-term interest rates dragged to the Stock Exchanges and caused a 1.61% drop in the S&P …
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