U.S. stocks dropped sharply as a toxic mix of weak jobs data, a surprise intervention in the oil markets and persistent euro-zone worries sparked a selloff in risky assets.
Treasury Secretary Timothy Geithner said he is confident that the U.S. will avoid a default crisis this summer as policy makers near agreement on a broad budget framework. "We're going to have a bipartisan, comprehensive long-term deficit reduction framework. The question is, what is going to be the shape of that framework," Mr. Geithner said at The Wall Street Journal CFO Forum. Do you agree? Or do you anticipate continued brinksmanship, a stalemate over the debt ceiling, and a potential downgrade of U.S. creditworthiness?