Trump's Tax Bill Shakes U.S. Stock Markets

The S&P 500 showed instability on Thursday following the U.S. House of Representatives' narrow approval of President Donald Trump's tax and spending bill. The legislation, likely to increase national debt by $3.8 trillion over a decade, faces scrutiny in a Senate dominated by Republicans.

The projected cessation of green-energy subsidies adversely affected solar stocks, with First Solar experiencing a significant decline. Nevertheless, tech giant Alphabet climbed to nearly three-month highs, demonstrating mixed market reactions amidst sector volatility.

Amidst the legislative upheavals, Treasury yields edged near historical peaks. Indicative of ongoing market challenges, U.S. stock indexes have been affected by tariff dynamics, bolstered only by temporary trade easements and tame inflation metrics.

(With inputs from agencies.)