NEW YORK (TheStreet) -- Major U.S. stock markets slumped Tuesday as Republicans and Democrats failed to show any meaningful progress in negotiations to raise the nation's borrowing limit.
The S&P 500 dropped 0.71% to 1,698.06. The Dow Jones Industrial Average dipped 0.87% to 15,168.01. The Nasdaq decreased 0.56% to 3,794.01.
Speaker John Boehner said earlier on Tuesday that Republicans and House Democrats continued to engage in dialogue about the debt ceiling and budget but that there was no guarantee for a resolution of the three-week old impasse.
Senate talks had paused by Tuesday afternoon as Senate Minority Leader Mitch McConnell waited to see if House Republicans would pass their own version of a deal, according to Politico, citing aides and senators close to the talks. At the closing bell of the markets, the House was still fleshing out a proposal.
The benchmark 10-year Treasury was down 8/32, lifting the yield to 2.723%.
-- Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.>
No comments:
Post a Comment