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Stocks slid on Wall Street as the U.S. government creeps closer to the edge of a potentially disastrous default on its debt.
How major US stock indexes fared Tuesday 23 May 2023
Stocks slid on Wall Street as the U.S. government creeps closer to the edge of a potentially disastrous default on its debt.
The S&P 500 fell 1.1% Tuesday as Democrats and Republicans still haven't agreed on a deal to keep the U.S. government from running out of cash. Washington is facing a deadline as early as June 1. The Dow Jones Industrial Average and Nasdaq composite also fell.
The stock market has remained resilient despite the debt-ceiling drama, but a worry among investors is that Washington may not feel urgency to act until markets shake enough to show the stakes.
On Tuesday:
