A bond sell-off and declining dollar signalled investor unease Wednesday as Washington lawmakers contemplated a tax-cut bill that could push up the US deficit.
Wall Street was trading lower, while European share markets were mixed at their close. The US dip extended losses from Tuesday, which had ended a six-day rally.
Much US attention on Wednesday was focused on a push by Republicans to pass US President Donald Trump’s “big, beautiful bill” to cut taxes. They are aiming for a vote in the House of Representatives later this week.
The US bill has “helped to push tariff and trade war concerns off the front pages”, David Morrison, senior market analyst at Trade Nation, said.
While New York stock market losses were restrained — and the tech-heavy Nasdaq was trading higher — analysts worried that the US bond…
