Debt ceiling deadlock sends Wall St plummeting.

1 min read
Source: Reuters
Debt ceiling deadlock sends Wall St plummeting.
Photo: Reuters
TL;DR Summary

Wall Street stocks finished lower on Tuesday as investor concerns grew over a lack of progress in U.S. debt limit talks. Representatives of U.S. President Joe Biden and congressional Republicans ended another round of debt ceiling talks on Tuesday, as the deadline drew closer to raise the government's $31.4 trillion borrowing limit or risk default. Debt limit worries pushed yields on one-month Treasury bills to record highs at 5.888%. The S&P 500 benchmark index declined 1.12% to end at 4,145.58 points.

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