Stocks have already been climbing a “wall of worry” in 2023, rising even as the economy slows, interest rates are poised to rise further, and geopolitical tensions continue apace. Now, a showdown between Congress and the White House regarding the government’s debt ceiling threatens to deter all but the most intrepid investors from continuing to climb that wall. Indeed, the S&P 500 has finally clawed its way back to 4,000 for the first time in more than a month, yet since news of the debt ceiling issue came into focus last week, markets have turned choppier.
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