U.S. stocks open lower as Wall Street watches for debt-ceiling progress

U.S. stocks opened lower on Tuesday as Wall Street kept an eye out for progress on debt-ceiling talks. The S&P 500
SPX,
-0.24%
fell by 16 points, or 0.4%, at 4,175. The Nasdaq Composite
COMP,
-0.13%
declined by 45 points, or 0.4%, to 12,675. The Dow Jones Industrial Average
DJIA,
-0.01%
shed 120 points, or 0.4%, to 33,165. In a new letter to Congress published on Monday, Treasury Secretary Janet Yellen reiterated that the U.S. won’t be able to pay all its bills by early June, and possibly as soon as June 1, if the debt limit isn’t raised by Congress.