FXstreet.com (San Francisco) - Wall Street has closed on Wednesday with red numbers after the Speaker John Boehner defied President Obama and said the House of Representatives will pass a budget proposal that Barack Obama had already threatened to veto.

The Dow Jones has turned back after posting its second triple-digit rally in the previous session. The index fell 98.99 points or 0.74% to close the day at 13,251.97. The S&P 500 lost 10.98 points or 0.76% to finish at 1,435.81. And the Nasdaq Composite was down for first time in three days and it eased 10.17 points or 0.33% to the 3,044.36 level.