At midday, the Dow was down about 250 points.
On Tuesday, it closed down 230 points, reversing earlier gains.
McCarthy reportedly left a Tuesday meeting telling Republicans the two sides are nowhere near a deal.
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The U.S. hasnt defaulted on its debt in this way before, so it would be uncharted territory.
Treasury Secretary Janet Yellen says that with no agreement the X-Date could fall as early as June 1.
The shares followed the broader markets lower today with Warner Bros.
Discovery falling nearly 4%.
Disney, Netflix and Comcast were down around 2%.
Moodys Analytics recently estimated that just one week of breach would erase 1.5 million jobs.
