Nail Biter Looming over Debt Deadline

With a midnight deadline hanging over Congress, stocks could be whipped by headlines from Washington Wednesday but should ultimately be able to limp through the latest drama.

Stocks fell Tuesday, ending a four-day winning streak as the Senate and House hit a seeming impasse on legislation to reopen the government and avoid hitting the debt ceiling. The House abandoned a plan to vote on any measure on Tuesday night. The Dow fell 133 to 15,0168, and the S&P 500 fell 12 to 1698.

Fitch put the U.S. on negative credit watch after the market close, noting that “political brinkmanship and reduced financing flexibility could increase the risk of a US default.”

CNBC

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