--- title: "US STOCKS-US stock futures dip, bond yields climb as Trump's tax bill standoff unfolds" description: "U.S. stock index futures fell as Treasury yields rose amid concerns over President Trump's tax-cut bill, which faces Republican opposition. The Dow, S&P 500, and Nasdaq futures dropped by 0.61%, 0.58%" type: "news" locale: "en" url: "https://longbridge.com/en/news/241198028.md" published_at: "2025-05-21T14:00:43.000Z" --- # US STOCKS-US stock futures dip, bond yields climb as Trump's tax bill standoff unfolds > U.S. stock index futures fell as Treasury yields rose amid concerns over President Trump's tax-cut bill, which faces Republican opposition. The Dow, S&P 500, and Nasdaq futures dropped by 0.61%, 0.58%, and 0.62%, respectively. Treasury yields increased, with the 30-year note reaching 5%. Moody's downgraded the U.S. credit rating, raising concerns about the $36 trillion debt. Stocks like Nvidia and Wolfspeed saw significant declines, while major retailers are set to report earnings soon. Despite recent losses, the S&P 500 remains up over 17% from April lows. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures down: Dow 0.61%, S&P 500 0.58%, Nasdaq 0.62% May 21 (Reuters) - U.S. stock index futures slipped and Treasury yields surged on Wednesday amid growing fiscal anxiety as investors focused on discussions around U.S. President Donald Trump's tax-cut bill that has been plagued by Republican infighting. The gate-keeping House Rules Committee has scheduled an unusual 1 a.m. ET hearing - that is expected to run well into daylight hours - where members will debate the proposed law. Trump huddled with lawmakers on Tuesday to try to persuade holdouts within his party to get in line on what he calls a "big, beautiful bill", but the visit failed to sway the wide array of lawmakers who object to specific features. "When tariffs and uncertainty reduce growth, further questions are also raised about how the U.S. federal deficit will be affected by the economy," Daniel Bergvall, head of economic forecasting at SEB said. At 04:51 a.m. ET, Dow E-minis YMcv1 were down 263 points, or 0.61%, S&P 500 E-minis EScv1 were down 34.75 points, or 0.58%, and Nasdaq 100 E-minis NQcv1 were down 134 points, or 0.62%. Highly valued technology stocks took a hit in premarket trading as rising rates tend to discount the present value of future profits. Nvidia NVDA.O led losses among top megacap and growth stocks and was down almost 1%. Treasury yields remained elevated, with those on the 30-year note US30YT=RR back up to 5% and the benchmark 10-year US10YT=RR yield climbing 5.6 basis points to 4.53%. U.S. bonds have been pressured since the start of the week, when Moody's downgraded the country's sovereign credit rating to "Aa1" from a pristine "Aaa", citing concerns about the nation's growing $36-trillion debt. Federal Reserve officials said on Tuesday that they expected tariffs to increase prices, but counseled patience before any interest-rate decisions were made. Among stocks, Wolfspeed WOLF.N tumbled 55.3% to $1.4 following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. Palo Alto Networks PANW.O fell 3.7% after the cybersecurity company reported a 12% increase in operating expenses in the third quarter, along with revenue roughly in line with estimates. Retailers Target TGT.N, TJX Cos TJX.N and home improvement chain Lowe's LOW.N are some of the major companies scheduled to report earnings before the bell. The earnings season is almost over, with more than 90% of the S&P 500 having declared results, although AI-poster child Nvidia is set to report next week. Stocks closed lower on Tuesday, with the S&P 500 snapping a six-day winning streak while the Dow .DJI logged its first decline in four sessions. Despite the losses, U.S. stocks have had a solid month so far. The S&P 500 is more than 17% higher than its April lows, when Trump's reciprocal tariffs roiled global markets. A pause in the tariffs, a temporary trade truce between the U.S. and China and tame inflation data pushed equities higher, although the S&P 500 is still about 3% from its record highs. Brokerage Morgan Stanley upgraded its stance on U.S. equities to "overweight", citing a slowing but still expanding global economy despite policy uncertainty. ### Related Stocks - [WOLF.US - Wolfspeed](https://longbridge.com/en/quote/WOLF.US.md) - [TJX.US - TJX](https://longbridge.com/en/quote/TJX.US.md) - [NVDA.US - NVIDIA](https://longbridge.com/en/quote/NVDA.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 沃尔玛四季度财报超预期但盈利指引不及预期，CEO 称 “美国低收入家庭只能勉强维持生计” | 沃尔玛 Q4 营收超预期，新财年盈利指引（每股 2.75-2.85 美元）远低于市场预期的 2.96 美元，显示通胀压力下消费者支出不确定性犹存，拖累股价下跌 1.38%。财报印证 K 型” 分化：高收入家庭驱动增长，低收入群体 “钱包吃紧 | [Link](https://longbridge.com/en/news/276398633.md) | | 谷歌突然发布 Gemini 3.1 Pro：核心推理性能直接翻倍 | 谷歌发布了最新的大模型 Gemini 3.1 Pro，其推理性能较去年发布的 Gemini 3 Pro 翻倍。在 ARC-AGI-2 评测中，Gemini 3.1 Pro 得分 77.1%，显示出强大的推理能力。新模型支持多源数据综合和复杂 | [Link](https://longbridge.com/en/news/276396515.md) | | GRAIL｜8-K：2025 财年 Q4 营收 43.6 百万美元超过预期 | | [Link](https://longbridge.com/en/news/276379877.md) | | 最高法裁决后特朗普动用替补选择：加征 10% 全球关税 | 美国总统特朗普在最高法院裁决后宣布将加征 10% 的全球关税，以补救被推翻的关税措施。根据《1974 年贸易法》第 122 条款，现有的关税将全面生效。最高法院裁定特朗普政府的部分关税措施缺乏法律授权。市场风险提示，投资需谨慎。 | [Link](https://longbridge.com/en/news/276477629.md) | | 学习英伟达刺激芯片销售，AMD 为 “AI 云” 借款做担保 | AMD 为扩大市场份额祭出金融 “狠招”！为初创公司 Crusoe 的 3 亿美元购芯贷款提供担保，承诺在其无客户时 “兜底” 租用芯片。这一复刻英伟达 “租卡云” 路径的策略虽能短期推高销量，但也令 AMD 在 AI 需求放缓时面临更大的 | [Link](https://longbridge.com/en/news/276401504.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.