The stock market lost its upward momentum on Tuesday as the lack of progress toward a resolution of the debt ceiling debate in Washington seemed to overwhelm investors. Investors still seem largely confident that lawmakers will resolve the debt ceiling problem without a cataclysmic default, but the lack of a clear solution as the days tick down still weighed a bit on sentiment. The Nasdaq Composite (NASDAQINDEX: ^IXIC) and S 500 (SNPINDEX: ^GSPC) had significant losses on the day, while the Dow Jones Industrial Average (DJINDICES: ^DJI) fared relatively well with more modest declines.

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Source Fool.com