Inflation and Debt Ceiling Concerns Weigh on US Markets.

The US Consumer Price Index (CPI) for April is expected to show that consumer prices remained elevated last month, consistent with the levels seen in March, with a forecasted rise of 5% over the prior year, matching March's annual gain. The Federal Reserve has been raising interest rates to try to bring down inflation, but risks sending the economy into a recession by hiking rates too high too fast. A high inflation print for April will add to risks the Fed will once again raise interest rates at its next policy meeting.