šØ Wall Street on Edge as Congress Fumbles Budget Talks! šøš
Markets are wobbling ā and itās not about inflation or Fed rates this time.
Congress is the new chaos generator.
Hereās whatās happening:
GOP lawmakers stall budget bill over SALT tax deduction demands š§¾
Trump steps in, but even his push hasn't broken the deadlock
Memorial Day goal? Slipping fast⦠ā³
Why This Matters:
More delays = more uncertainty
If passed, the bill could flood markets with Treasury debt
That risks higher borrowing rates, pressure on the dollar, and a hit to stocks & crypto
Wall Street reaction:
S&P 500, Nasdaq, and Dow all closed red
Futures sliding Wednesday morning
30-year yield near 5% = bond market stress rising fast! š
What Experts Are Saying:
UBS warns: āThis bill could balloon the $36T deficit and strain bond demand.ā
BofA flags: āA bond-buyer strike is possible ā rates could spike, dollar could dip, equities might slide.ā
Until Congress figures it out, investors are watching with caution ā and crypto is in the splash zone.
#BudgetBattle #WallStreet #CryptoWatch #SALTfight #TrumpBill