Global Stocks Slide as Investors Await Debt-Ceiling Vote

Stocks slumped worldwide on Wednesday due to concerns about the strength of the global economy and inflation. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all fell. Worries are rising for the larger US economy, which has slowed under the weight of much higher interest rates. The Federal Reserve has raised rates at a furious pace since early last year in hopes of getting inflation under control. A report released Wednesday morning bolstered expectations for the Federal Reserve to hike rates at least one more time.