A trader works the floor of the New York Stock Exchange at the opening bell. Most Asian equities sank on Thursday on fears of a US default as the struggle to hammer out a debt deal led Fitch to warn the country’s gold-plated credit rating was at risk. Photo: AFP
Biden, McCarthy appear near 2-year deal on US debt ceiling as default looms
- The two sides are reportedly just US$70 billion apart on a total figure that would be well over US$1 trillion
- A US default could upend global financial markets and push the United States into recession
A trader works the floor of the New York Stock Exchange at the opening bell. Most Asian equities sank on Thursday on fears of a US default as the struggle to hammer out a debt deal led Fitch to warn the country’s gold-plated credit rating was at risk. Photo: AFP
