Amid cautious monitoring by investors, U.S. stock indexes fell on Wednesday, and bond yields rose, with the debate over Trump's tax plan escalating, which could add new burdens to the U.S. national debt.
The Dow Jones Industrial Average fell by 352.28 points, or 0.83 percent, to reach 42,324.96 points.
The S&P 500 lost about 31.84 points, or 0.54 percent, to reach 5,908.62 points.
The Nasdaq Composite lost 97.35 points, or 0.51 percent, to reach 19,045.36 points.
Sectors in the S&P are declining led by technology.
All eleven sub-sectors in the S&P index declined, with the technology and consumer goods sectors among the hardest hit.
Shares of highly valued technology companies fell as rising interest rates reduce the present value of future earnings.
Amazon's stock led the losses among large growth stocks with a decline of 1.5 percent.
UnitedHealth Group's stock fell by 5.1 percent after a report from The Guardian indicated that the company provided secret financial incentives to nursing homes to reduce patient transfers to hospitals.
HSBC also downgraded the stock from 'hold' to 'reduce weight'.
A decline in the number of advancing stocks versus declining stocks.
The number of declining stocks exceeded that of advancing stocks by 3.93 to 1 on the New York Stock Exchange, and 2.98 to 1 on the Nasdaq.
The S&P 500 recorded two new highs in 52 weeks without registering any new lows, while the Nasdaq recorded 16 new peaks and 17 new troughs.