Investors eye Trump’s tax bill, rising bond yields and deficit: Live Updates
President Trump’s ‘big beautiful spending’ bill is giving investors pause as bond yields move higher over debt and deficit concerns. The 10-year Treasury yield topped 4.5% creating headwinds for U.S. stocks. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Coverage for this event has ended.
President Donald Trump's tax bill is one step closer to being complete, in a post on Truth Social, Trump praised the legislation.
“THE ONE, BIG, BEAUTIFUL BILL” has PASSED the House of Representatives! This is arguably the most significant piece of Legislation that will ever be signed in the History of our Country! The Bill includes MASSIVE Tax CUTS, No Tax on Tips, No Tax on Overtime, Tax Deductions when you purchase an American Made Vehicle, along with strong Border Security measures, Pay Raises for our ICE and Border Patrol Agents, Funding for the Golden Dome, “TRUMP Savings Accounts” for newborn babies, and much more! Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill! Now, it’s time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE! There is no time to waste. The Democrats have lost control of themselves, and are aimlessly wandering around, showing no confidence, grit, or determination. They have forgotten their landslide loss in the Presidential Election, and are warped in the past, hoping someday to revive Open Borders for the World’s criminals to be able to pour into our Country, men to be able to play in women’s sports, and transgender for everybody. They don’t realize that these things, and so many more like them, will NEVER AGAIN happen!
Disney has dominated Florida's theme park industry for decades but a smaller rival is aiming to take on the Mouse House. Universal Epic is now open for business.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DIS | $111.66 | 1.20 | 1.08 |
Walmart, the world's largest retailer and employer, is trimming its workforce and AI is partially behind the move.
Bitcoin, the largest crypto currency by market value, hit another fresh record Thursday even as stocks notched gains.
Earlier this week, JPMorgan CEO Jamie Dimon shifted the bank's policies on crypto, begrudgingly.
Investors are growing more concerned about government spending, especially as President Trump's "big beautiful bill" moves closer to becoming law.
Here's a snapshot of the U.S. national debt and why these eye-popping numbers are rattling investors.
Rising bond yields are creating more headwinds for U.S. stocks. The yield on the 10-year Treasury crossed 4.5% Wednesday, pulling back slightly Thursday morning. Further pressure came after a weaker-than-expected bond auction late yesterday.
FOX Business' Edward Lawrence asked the White House about the situation.
Trading Economics
“Since President Trump took office, we’ve seen back-to-back robust jobs reports, below-expectation inflation reports, and trillions in historic investment commitments. Today’s Treasury bond auction reinforces the importance of Congress passing The One, Big, Beautiful Bill to build on America’s economic resurgence and fix the Biden administration’s reckless fiscal policies. Critically, passing this bill reduces substantially the risk of any debt limit debate for at least a couple of years, which reduces credit risk and is a net positive for the Treasury market. “
WH Spokesman Kush Desai
Stocks fell sharply on Tuesday as Treasury yields spiked driven by uncertainty surrounding President Donald Trump's tax cut bill and the possibly of more government spending and a rising deficit and debt. Higher bond yields, especially the 10-year Treasury, make it more expensive for everyday consumers to borrow,
Trading Economics
The 10-year Treasury yield crossed above 4.5% and is flirting with a three-month high, while the 30-year yield is soaring above 5% to the highest level since October 2023.
The Dow Jones Industrial Average closed down 817 points points or 1.9%, while the S&P 500 and Nasdaq Composite lost 1.6% and 1.4%, respectively.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TSLA | $334.62 | -9.20 | -2.68 |
| NVDA | $131.80 | -2.58 | -1.92 |
| PLTR | $120.58 | -5.01 | -3.99 |
| GOOGL | $168.56 | 4.58 | 2.79 |
| IBIT | $61.79 | 0.88 | 1.44 |
Tesla, Nvidia and Palantir paced the declines among the most active stocks, while Google and the iShares Bitcoin Trust ETF bucked the selling. Bitcoin hit a new all-time high trading over the $109,000 level.
The race is on to get President Donald Trump's tax cut wrapped up in a "big beautiful bill" which is making its way through Capitol Hill.
FOX News' Chad Pergram breaks down the latest from Washington D.C.
Live Coverage begins here