Wall St falls as labour data spur rate hike jitters before debt ceiling vote

The Dow fell 134.51 points, or 0.41%, to 32,908.27; the S&P 500 lost 25.69 points, or 0.61%, at 4,179.83; and the Nasdaq dropped 82.14 points, or 0.63%, to 12,935.29. — Reuters

BENGALURU: US stocks closed down on Wednesday as a deal to raise the federal debt ceiling headed for a crucial vote in Congress, while unexpectedly strong labor market data rattled investors who fear the Federal Reserve might hike interest rates again in June.

The House of Representatives is expected to vote in the evening on a bill to lift the US$31.4 trillion debt limit, a critical step to avoid a destabilizing default that could come early next week without congressional approval.