U.S. stocks rose on Thursday, erasing initial declines, as Treasury yields eased off recent highs after the House of Representatives passed U.S. President Donald Trump's tax and spending bill. Recent concerns about the U.

Warren Buffett's knack for investing has made Berkshire Hathaway a very successful business. It is one of a handful of companies to achieve a trillion-dollar market value, and the $77 billion cost basis on its $264 billion stock portfolio means the average position has more than tripled.

Wall Street slumped under the weight of pressure from the bond market, where Treasury yields climbed on worries about the U.S. government's spiraling debt and other concerns.