U.S. Markets Stable Amid Tax Bill and Tariff Concerns
U.S. stocks saw minimal changes after an initial drop, as Treasury yields eased following Trump's tax bill's approval. Concerns over U.S. debt and tariffs loom, affecting market sentiments. Major indexes remained steady, though with sectoral variations. Green-energy subsidies might diminish due to the new tax legislation.
In a session marked by fluctuations, U.S. stocks stabilized on Thursday after initially dipping, as Treasury yields decreased following the House of Representatives passing President Donald Trump's tax and spending bill.
Concerns over the U.S. deficit had previously increased Treasury yields, putting pressure on stocks, but with the easing of longer-dated yields, stocks found respite. The benchmark U.S. 10-year note yield fell noticeably, with S&P 500, Dow Jones, and Nasdaq showing varying responses.
The new tax bill fulfills several of Trump's campaign promises but is projected to increase the national debt substantially. Market uncertainties remain high amidst ongoing worries about tariffs and interest rates, affecting various sectors differently.
(With inputs from agencies.)
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