Market Recap: Stocks Retreat as Treasury Yields Surge and Target Disappoints
Major Indexes Pull Back on Tax Bill Uncertainty and Retail Concerns The U.S. stock market retreated on Wednesday, May 21, 2025, as investors closely monitored Congressional deliberations on a sweeping tax bill while digesting disappointing earnings from major retailers. The market’s recent optimism faded amid rising Treasury yields and concerns about consumer spending. The S&P 500 declined 0.5%, breaking its six-day winning streak, while the tech-heavy Nasdaq Composite fell 0.2%. The Dow Jones Industrial Average dropped 1%, making it the worst performer among the major indexes. “Stocks moved lower Wednesday morning as investors kept close tabs on deliberations in Congress on a sweeping bill that would extend significant tax cuts and boost spending,” noted market analysts, highlighting the legislative uncertainty weighing on investor sentiment. Retail Sector Faces Headwinds as Target Cuts Outlook Target (TGT) shares tumbled 4% after the retail giant missed first-quarter revenue expectations and cut its full-year sales […]