US stock market: S&P 500, Dow dip as focus shifts to inflation data, debt talks

US stock indexes closed lower as investors turned cautious ahead of economic reports and a meeting between political leaders to discuss the debt ceiling. The market was anxiously waiting for the US consumer price index report, which will give an insight into whether inflation is easing, and for the meeting between US President Joe Biden, Republican House Speaker Kevin McCarthy, and other congressional leaders, to discuss the debt ceiling.