(Image by Oleg Gamulinskiy from Pixabay)
(CNBC) -- Stocks fell Wednesday as investors kept an eye on the federal debt ceiling debate in Washington in the final trading day of May.
The Dow Jones Industrial Average traded 134.51 points lower, or 0.41%, to end at 32,908.27. The S&P 500 dipped 0.61% to close at 4,179.83. The Nasdaq Composite slipped 0.63%, finishing at 12,935.29.
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The deal, which was reached over the weekend by President Joe Biden and House Speaker Kevin McCarthy, cleared a major test Tuesday night after advancing to the House floor following a 7-6 vote in the House Rules Committee. The floor vote is expected to take place Wednesday evening. “I think we have the votes to pass this today,” said Rep. Patrick McHenry, a GOP negotiator on the debt deal, on CNBC’s “Squawk Box” Wednesday morning.
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