The broad-based Dow Jones Industrial Average, comprising mostly industrial stocks, settled at 33,844, down 4% for September. The blue-chip S&P 500, which groups the top 500 stocks on the New York Stock Exchange, settled down at 4,305, down 5% for the month. The Nasdaq Composite Index, led by Big Tech names such as Facebook, Amazon, Apple, Netflix and Google, finished at 14,449, down 5.3% for the month.
Congressional Democrats and the Biden administration have been attempting to juggle a time-sensitive legislative agenda that includes funding the government to prevent a shutdown, raising the debt ceiling, and passing a major infrastructure deal.
Attempts to suspend the debt ceiling and prevent a default have been twice halted by Senate Republicans led by Minority Leader Mitch McConnell, despite the House already having voted to suspend it through December 16, 2022.
Attempts to suspend the debt ceiling and prevent a default have been twice halted by Senate Republicans led by Minority Leader Mitch McConnell, despite the House already having voted to suspend it through December 16, 2022.