Stocks trade on either side of flat shortly after the open as Trump's 'big, beautiful' tax bill moves to the Senate. Deficit worries push yields up.

U.S. stocks are falling on Wednesday under pressure from rising Treasury yields in the bond market and mixed financial forecasts from some of the country’s biggest retailers. The S&P 500 was down 1.3% in afternoon trading and on track for a second straight drop after breaking a six-day winning streak.

Yields have been on the rise in part because of concerns that tax cuts currently under consideration in Washington could pile trillions of more dollars onto the U.S. government‘s debt.

U.S. stocks fell as momentum slowed for Wall Street after it rallied from a deep hole nearly all the way back to its all-time high set earlier this year.