‘Chin up and don’t put a lot of money to work,’ Cramer says

News Snapshot:

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. Stocks fall on debt-ceiling worries Palo Alto's beat and raise China-exposed stocks face Covid hurdle 1. Stocks fall on debt-ceiling worries Equities came under pressure Wednesday, with investors increasingly concerned over Washington's failure to reach a deal to raise the U.S. debt ceiling. The government could default on its debt obligations as early as June 1 if President Joe Biden and House Speaker Kevin McCarthy don't reach an agreement by the end of the month....