Wall Street slumped under the weight of pressure from the bond market, where Treasury yields climbed on worries about the U.S. government’s spiraling debt and other concerns.

Wall Street is slumping under the weight of pressure from the bond market, where Treasury yields climbed on worries about the U.S. government’s spiraling debt and other concerns. The S&P 500 fell 1.5% Wednesday.

U.S. stocks fell on Wednesday as Treasury yields rose and investors digested prospects that passage of U.S. President Donald Trump's proposed tax-cut bill could swell the federal debt. All three major Wall Street indexes were lower.