Stocks fell, Treasury yields rose and the dollar came under pressure on Wednesday, as investors sold U.S. assets over growing concerns about President Donald Trump's efforts to ram through a tax-cutting bill.

Gold rose as the dollar tumbled after Moody’s Ratings stripped the US of its last top credit rating due to ballooning debt and deficits.Most Read from BloombergAmerica, ‘Nation of Porches’Maryland’s Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike,

Asian stocks gained, while the U.S. dollar was under pressure on Wednesday finding little support from a rise in bond yields, as investors fretted about the fiscal outlook of major developed economies and the lack of progress on trade deals.

The dollar is falling way too fast. On Wednesday, the Bloomberg Dollar Spot Index dropped by 0.4%, logging its third straight day of losses and hitting its lowest point in two weeks.

The yield on both 10 and 30-year government bonds rose on Monday after another credit ratings agency downgraded the US on Friday.

Developments in Trump's global tariff war, which have swung currencies wildly in recent months, have slowed considerably this week, even as the clock ticks down to the end of 90-day tariff respites for U.S. trade partners in the absence of new trade deals.

The dollar slipped again Tuesday, weighed down by the Federal Reserve’s caution over the economy while traders considered news of upcoming U.S.-Japan talks.

Treasury yields fall and the dollar is little changed as Monday's "Sell America" trade recedes a bit. Concerns about the U.S. government debt flared up after the Moody's downgrade and the progress of a tax bill in Congress that looks poised to widen the already worrisome budget hole.