Xin Hua Cai Jing·2025-05-22 01:42Group 1 - The U.S. stock market opened lower on May 21 due to weak demand in the 20-year Treasury bond auction, leading to a surge in bond yields and concerns over a new tax bill increasing the federal deficit [1][2] - The Dow Jones Industrial Average fell by 816.80 points, closing at 41,860.44, a decline of 1.91%. The S&P 500 dropped by 95.85 points to 5,844.61, down 1.61%, while the Nasdaq Composite decreased by 270.07 points to 18,872.64, a drop of 1.41% [1] - Among the S&P 500 sectors, ten out of eleven declined, with the real estate and healthcare sectors leading the losses at 2.63% and 2.37%, respectively, while the communication services sector rose by 0.67% [1] Group 2 - The 20-year Treasury bond auction had a final market yield of 5.047%, surpassing the previous average yield of 4.613% from the last six auctions, marking the first time since October 2023 that the yield exceeded 5% [2] - Concerns about the new tax and spending bill, which is expected to increase the federal deficit by approximately $3 trillion over the next decade, are influencing investor sentiment [2][3] - Major retailers reported disappointing earnings, contributing to stock market pressure, with Target lowering its full-year forecast, resulting in a 5.21% drop in its stock price [3]