US stocks drop as Trump's ‘big, beautiful' tax bill faces rare overnight hearing
1. S&P 500 dropped amid volatile trading and rising Treasury yields. 2. Trump's tax-cut proposal risks adding $3-5 trillion to national debt. 3. Health Care sector was the hardest hit among S&P sub-sectors. 4. Moody's downgrade of U.S. credit rating pressures bonds. 5. Morgan Stanley upgraded U.S. equities, citing slow but ongoing economic expansion.