📌 Wall Street indices closed sharply lower on Wednesday, affected by rising U.S. Treasury yields amid fears of U.S. government debt inflation into trillions of dollars if Congress approves the tax reduction bill proposed by President Donald Trump.
📌 The three main Wall Street indices recorded their largest daily losses in a month, while small-cap stocks fell sharply.
📌 The S&P 500 index declined by 95.85 points, or 1.61%, to close at 5,844.61 points, while the Nasdaq Composite index fell by 270.07 points, or 1.41%, to close at 18,872.64 points, and the Dow Jones Industrial Average dropped by 816.80 points, or 1.91%, to close at 41,860.44 points.
📌 Non-partisan analysts stated that the Republican bill could add between $3 and $5 trillion to the federal government's existing debt of $36.2 trillion.
