Debt default deadline sends markets into turmoil.

The US debt-ceiling crisis is expected to weigh on markets over the next few weeks, with Treasury Secretary Janet Yellen warning that the US could default on its debt as soon as June 1. The lack of urgency means that debt-ceiling fears don't usually impact stocks until the projected default day is within two weeks, according to Bank of America. However, the pressure is likely still coming, with some analysts comparing the current political conditions to 2011, when a debt-ceiling crisis led to a nosedive in the S&P 500. Investors are advised to buy short-dated Treasury bills with the expectation that the crisis will be resolved.