WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
Treasury Secretary Janet Yellen previously warned lawmakers that a potential default in early June is “highly likely.” She noted Wednesday that she already sees “some stress in financial markets” as concerns mount that the U.S. could see its first default in history.
The market remains in “pullback mode” due to a combination of overbought conditions and elevated fears of an unfavorable debt ceiling outcome as June 1 draws closer, said Adam Sarhan, CEO of 50 Park Investments.
E-Mini Nasdaq
Stocks hovered near their lows even as minutes released from the Federal Reserve’s latest meeting signaled more “uncertainty” as to whether the central bank should hike again in June.
The minutes indicated that a decision to increase rates at the next meeting would ultimately hinge on upcoming data releases.
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