NEW YORK — Bond yields inched higher and Wall Street flipped from small gains to losses before the opening bell Thursday after rising U.S. debt sank markets on the previous day.

Futures for the Dow Jones Industrial Average fell 0.5% in premarket trading, while futures for the S&P 500 and Nasdaq each slid 0.3%.

U.S. markets are also reacting to the passage early in the House on Thursday of the Republicans' multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from President Donald Trump’s first term in 2017 while adding others. The bill, which has stiffer requirements for Medicaid and other programs, is expected to undergo some changes when it gets to the Senate for a vote.

The legislation also includes a speedier rollback of production tax credi

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