NEW YORK (AP) — Wall Street fell again, part of a worldwide swoon for stocks as worries about the economy pile higher.

The S&P 500 fell 0.7% Wednesday after House Speaker Kevin McCarthy said Republicans and Democrats remain far apart in efforts to prevent a default on the U.S. government's debt.

The main U.S. stock index is on track for its worst week in more than two months as the once-unthinkable creeps closer to possibility. Other markets around the world fell even more on discouraging economic reports.

Some of the worst losses came from companies that gave forecasts that fell short of expectations.