U.S. stocks were flat Wednesday as investors obsessed over the debt ceiling. The Dow Jones industrial average fell 16 points, or 0.1%. United Technologies and Microsoft were the biggest losers while Boeing and Bank of America were the biggest gainers. 

The S&P 500 lost 1 point, and the Nasdaq composite decreased by 6 points or 0.2%.

The Dow experienced its strongest one-day rally of the year Tuesday after President Obama said that he would support raising the debt ceiling. 

Clearly, investors are still wary due to fears that the plan to increase the debt ceiling by Aug. 2 may not have enough time or support to make it through Congressional negotiations.