Markets React to Trump’s $3.8 Trillion Tax Bill
The euro fell and the yen strengthened Thursday as weak European business data clashed with mounting U.S. debt concerns.
President Trump’s tax-and-spend bill passed the House, potentially adding $3.8 trillion to the U.S. debt over the next decade.
This fueled further selling in U.S. Treasuries and the dollar, with investors turning to safe-haven currencies and assets.
Bitcoin surged to a record high above $111,000 as some investors looked for alternatives to U.S. financial markets amid growing fiscal instability.
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