Stock Market News Today: US stocks fall as traders assess debt ceiling outlook

US stocks slid Friday as investors assessed the outlook on the US debt ceiling crisis. All three major indexes ended the day lower, with the S&P 500 notching its second straight losing week.

President Joe Biden was scheduled to meet with other lawmakers on Friday to discuss a possible solution to the debt ceiling crisis, though talks have been postponed until next week.

The University of Michigan consumer sentiment survey dipped to 57.7 in May, its lowest level in six months. Meanwhile, inflation expectations over the next five years rose to 3.2%, the highest level the survey recorded since 2008.

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