U.S. stocks plummeted on Wednesday as Treasury yields surged amid concerns over the potential increase in U.S. government debt due to President Trump’s proposed tax-cut bill. All major Wall Street indexes experienced their largest daily losses in a month, with small-cap stocks also suffering significant declines.
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.
December 11, 2025