That yield shows roughly how much in interest the U.S. government needs to pay investors to get them to lend it cash for 10 years. Washington needs that cash because it consistently spends more than it takes in through tax revenue. And when bond investors are more wary of lending to the U.S. government, yields for Treasurys rise.

House Speaker Mike Johnson said he plans to move ahead with a vote on Trump's tax legislation as soon as tonight despite Republican lawmakers in the House Fr

U.S. stocks fell on Wednesday as Treasury yields rose and investors digested prospects that passage of U.S. President Donald Trump's proposed tax-cut bill could swell the federal debt. All three major Wall Street indexes were lower.