Stock markets and the US dollar fell on May 21 as investors grew increasingly concerned about President Trump’s tax-cutting bill.
Treasury yields rose amid fears the legislation could worsen the US’s already substantial $36 trillion debt by an additional $3-5 trillion.
Oil prices increased after reports of Israel preparing strikes on Iranian nuclear facilities.
Investors moved toward safe-haven currencies like the yen and Swiss franc, while European stocks retreated from recent highs.