Stocks fell Friday as the ongoing debt ceiling debate in Washington hit a stalling point and investors continued to digest a better-than-feared first-quarter earnings season.
The S&P 500 (^GSPC) fell 0.19%, while the Dow Jones Industrial Average (^DJI) dropped more than 100 points, or 0.33% at the close. The technology-heavy Nasdaq (^IXIC) fell 0.24%.
For the week, the major averages closed higher, though. The Nasdaq and S&P 500 had their best week since March and their highest weekly close since August 2022.
Stocks had risen over the past several sessions as the debt debate appeared to be making progress in Washington.
“It’s time to press pause because it’s just not productive,” Rep. Garret Graves told reporters on Friday. Graves had been tapped by Speaker of the House Kevin McCarthy to lead the talks for the Republicans.
President Biden is expected to host a press conference…
