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,
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.
Dow Jones Averages.
$
41860.44
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.