The U.S. House passed Trump's tax reform bill, escalating market concerns about the national deficit. Following a significant sell-off previously, U.S. stocks continued on a softer note. The Dow Jones Industrial Average showed fluctuating movements, ending slightly down by 1 point at 41,859. The S&P 500 decreased by 2 points to 5,842, while the Nasdaq rose by 53 points, or 0.3%, to 18,925.
Technology stocks generally performed well. Tesla (TSLA) saw a 1.9% increase, while Amazon (AMZN) and NVIDIA (NVDA) rose about 1%. Microsoft (MSFT) appreciated by 0.5%. Alphabet (GOOG) initially saw gains post-2025 I/O Developer Conference, but gains moderated to 1.1% by the close. Apple (AAPL, Financial) experienced a minor decline of 0.4%.
In the cryptocurrency space, Bitcoin surged past the $110,000 mark, achieving a new high. Consequently, Coinbase (COIN) saw a 5% increase, whereas MicroStrategy (MSTR), a major Bitcoin holder, declined by 0.8%.
