Indian shares slip as high U.S. yields weigh; IT, financials drag

India's Nifty 50 .NSEI and Sensex .BSESN down about 1% each in broad-based selling driven by financials, information technology stocks

Bond yields in U.S. and Japan rise due to concerns over mounting debt

Rising Treasury yields tend to make bonds more attractive to foreign investors, driving out capital from stocks in emerging markets such as India

U.S. President Donald Trump's tax bill expected to be voted on in the House of Representatives within hours; investors worried it could add about $3.8 trillion to the U.S. debt pile

Information technology .NIFTYIT companies, which rely heavily on revenue from U.S., down 1.4% on worsening fiscal outlook for the world's largest economy

Heavyweight financials .NIFTYFIN down 0.8%

Power Grid Corp PGRD.NS down about 3% as it warns of dividend cut and hikes capex outlook for next two years