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 0.39%, while the Dow Jones Industrial Average (^DJI) dropped more than 100 points, or 0.49%. The technology-heavy Nasdaq (^IXIC) fell 0.44%.
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.
Big tech had been leading a week-long rally. On Thursday, Netflix (NFLX), Apple (AAPL), Alphabet (GOOGL), Meta (META), Microsoft (MSFT), and Nvidia (NVDA) all finished at their highest levels in at least a year.
A John Deere sprayer sits in a popcorn field on the Matt Johnson family farm in Redkey, Indiana June 28, 2012….
This article was written by and originally published on finance.yahoo.com