From Nasdaq: 2025-05-22 06:24:00

Wall Street saw a sharp decline as long-dated U.S. bond yields spiked, fueling concerns over Trump’s tax-cut bill and the U.S.-China tariff war. Dow Jones fell 1.9%, Nasdaq slid 1.4%, and S&P 500 tumbled 1.6%. Tech giants like Microsoft and Apple also saw losses.

Yields on U.S. government bonds surged after concerns over Trump’s tax-cut bill. House Republicans questioned the tax deduction for state and local taxes. The proposed tax cut could add $3-5 trillion to the $36.2 trillion U.S. fiscal deficit. Moody’s downgraded U.S. credit rating to Aa1.

Following lackluster demand at the auction for 20-Year U.S. Treasury Notes, yields on 30-Year and 10-Year U.S. Treasury Notes spiked. 30-Year yield hit 5.09%, highest since October 2023, and 10-Year yield reached 4.59%, highest since mid-February. Bond market reacted to concerns over rising U.S. fiscal deficit.

U.S. commercial crude oil inventories rose by 1.3 million barrels for the week ending May 16. Zacks Investment Research offers a $1 deal for access to all picks for 30 days. Thousands have availed this opportunity, exploring services like Surprise Trader, Stocks Under $10, and more with significant gains in 2024.



Read more at Nasdaq: Stock Market News for May 22, 2025