NEW YORK—Stocks slid Tuesday as the U.S. government crept closer to the edge of a potentially disastrous default on its debt.
The S&P 500 fell 1.1 percent after House Speaker Kevin McCarthy said, “We’re not there yet” on a deal to prevent the U.S. government from running out of cash. That followed a meeting late Monday that he and President Joe Biden called productive but ultimately ended with no agreement.
