Jim Cramer Warns Politicians 'Aren't Done Hurting You' On Debt Ceiling: 'Most Of Us Need To Take The Pain'
Portfolio Pulse from Bhavik Nair
Jim Cramer warns investors that the ongoing debt ceiling stand-off could cost them money, as politicians struggle to reach a resolution. He recalls the 2011 debt limit impasse, which led to a downgrade of the US government's credit rating. Fitch Ratings has placed the US 'AAA' Long-Term Foreign-Currency Issuer Default Rating on Rating Watch Negative due to increased political partisanship.
May 25, 2023 | 4:50 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) shed 0.51% on Wednesday as investor sentiment sours due to the unresolved debt ceiling stand-off.
The unresolved debt ceiling stand-off is causing uncertainty in the market, leading to a decline in investor sentiment. This has resulted in a 0.51% drop in the QQQ ETF on Wednesday, indicating a negative short-term impact on the asset.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 0.72% lower on Wednesday amid souring investor sentiment due to the debt ceiling stand-off.
The ongoing debt ceiling stand-off is causing uncertainty in the market, leading to a decline in investor sentiment. This has resulted in a 0.72% drop in the SPY ETF on Wednesday, indicating a negative short-term impact on the asset.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50