Trump’s ‘Big, Beautiful Bill’ aims at cutting EV tax credits
President Donald Trump’s tax bill includes a measure to kill an Obama-era electric vehicle tax credit.
U.S. stocks opened lower amid mixed earnings reports, concerns about violence in the Middle East, and rising long-term bond rates.
The Dow Jones Industrial Average was off 0.9%, slipping 370 points to open near 42,308, while the broad S&P 500 Index lost 0.7%, or 39 points, near 5,902. The tech-heavy Nasdaq Composite lost 0.6% or 105 points, trading near 19,038 in the morning.
The 30-year U.S. bond yield pressed higher, moving above the key 5% level again as investors worried about the deficit, which is projected to spiral higher if the White House tax bill becomes law. Bond prices move in the opposite direction of yields. The key long bond hasn’t settled above 5% since October 2023.
Mideast tensions push oil prices higher
Oil prices rose on a CNN report that new U.S….
