President Trump’s ‘big beautiful spending’ bill is giving investors pause as bond yields move higher over debt and deficit concerns. The 10-year Treasury yield topped 4.5% creating headwinds for U.S.

There’s a list of things the White House could do to lower yields, but signing an executive order isn’t one of them, one portfolio manager said.

Federal Reserve officials say they expect tariffs to increase prices, but counsel patience before any interest-rate decisions are made.

European stocks fell on Thursday, as concerns over U.S. fiscal health kept Treasury yields elevated, while data showed euro zone business activity unexpectedly slipped back into contraction this month.

Stocks turned lower Wednesday after a disappointing Treasury bond auction accelerated a selloff in the debt market. The Dow Jones Industrial Average dropped about 600 points, or 1.5%, leading indexes lower in afternoon trading.