Debt concerns and inflation data drive Wall Street down.

U.S. stock indexes closed lower as investors grew more cautious ahead of a U.S. consumer price index report and a meeting between U.S. political leaders to discuss the debt ceiling. Disappointing forecasts from companies such as PayPal and Apple supplier Skyworks also weighed on the mood. Talks over the U.S. debt ceiling are adding to caution in the market as traders were also waiting for an update on plans for the debt ceiling from a meeting between U.S. President Joe Biden, Republican House Speaker Kevin McCarthy and other congressional leaders at the White House.