Market Turmoil: Dow Drops as Nasdaq Soars Amid Tax Bill Uncertainty
U.S. stock markets experienced volatility as the S&P 500 declined, and Treasury yields rose amidst Trump's tax bill concerns. The Nasdaq, however, gained, driven by Alphabet's surge. UnitedHealth faced setbacks due to secret payment reports, while Bitcoin hit a historic high. Economic uncertainty continues to impact investor confidence.
Stock markets in the U.S. showed signs of volatility on Wednesday, reflecting uncertainty surrounding President Donald Trump's proposed tax bill. The S&P 500 experienced a slight decline amid rising Treasury yields, while the Nasdaq rose, buoyed by gains in major tech firms including Alphabet.
UnitedHealth Group faced a challenging day after reports surfaced about undisclosed bonus payments to nursing homes, and a downgrade from HSBC added to its woes. Retailer Target also saw a drop after revising its annual sales forecast downwards, indicating concerns over consumer spending.
In a brighter spot for investors, Bitcoin reached a new record high, reflecting ongoing interest in cryptocurrencies. The bond market remains pressured, and despite some solid gains in the index, analysts continue to express caution amid policy and economic uncertainties.
(With inputs from agencies.)
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