The Dow closed lower by 817 points, or 1.91%. The broader S&P 500 slid 1.61% and the tech-heavy Nasdaq Composite fell 1.41%. The three major indexes each posted their worst day in one month.

Wall Street major averages advance on Thursday, while a bond sell-off in longer-term maturities picked up pace after the U.S. House narrowly passed President Trump's "One Big Beautiful" tax bill. The benchmark S&P 500 (SP500) was +0.

White House officials maintain bankers’ concerns are overstated and discount expected revenues from the president’s tariffs.