Dow drops over 350 points, s&p 500 and nasdaq slide as treasury yields move higher amid tax bill debate

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Dow drops over 350 points, s&p 500 and nasdaq slide as treasury yields move higher amid tax bill debate"


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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.


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