Kevin McCarthy Tweets "President Biden Has 8 Days Left To Avoid Becoming The First President In History To Default On The Debt; Sending Negotiators To The White House; Number Of Places We Are Still Far Apart"
Portfolio Pulse from Happy Mohamed
House Minority Leader Kevin McCarthy tweeted that President Biden has 8 days left to avoid becoming the first president to default on the debt, indicating ongoing negotiations and differences between parties.
May 24, 2023 | 3:44 pm
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NEGATIVE IMPACT
The ongoing debt ceiling negotiations and potential default risk may cause short-term volatility in the S&P 500 ETF (SPY).
The debt ceiling negotiations and potential default risk can create uncertainty in the market, leading to increased volatility. This can negatively impact the S&P 500 ETF (SPY) in the short term as investors may react to the news and adjust their positions.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 50