The policy-sensitive 2-year Treasury yield edged higher after 3 p.m. Eastern time on Thursday, following fresh comments from Federal Reserve Chair Jerome Powell that indicated the central bank isn’t in a hurry to cut interest rates again.

Worries that EV tax credits may go away under the Trump administration hit a fever pitch on Thursday, dragging down the stocks.

Biogen’s stock rose 1% Thursday, after Europe’s pharmaceutical regulator issued a positive opinion on the Alzheimer’s disease drug that the company developed with Japanese partner Eisai — reversing an earlier decision not to approve the drug.