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May 25, 2023

Stocks tumble worldwide

By STAN CHOE and DAMIAN J. TROISE
AP Business Writers

NEW YORK — Wall Street fell again Wednesday as stocks tumbled worldwide on worries about the economy.

The S&P 500 dropped 0.7% after House Speaker Kevin McCarthy said Republicans and Democrats remain “far apart” in their efforts to prevent a potentially disastrous default on the U.S. government's debt. The main U.S. stock index is on track for its worst week in more than two months as the once-unthinkable creeps closer to possibility.


 
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