Asian Markets Wobble As US Struggles To Reach Debt Deal

Written by on May 16, 2023

Equities were mixed in Asia on Tuesday as traders grow increasingly concerned that US lawmakers remain far apart in their bid to raise the country's borrowing limit to avert a default.

While there is a general feeling an agreement will be reached, Republican House Speaker Kevin McCarthy warned Monday that staff-level meetings were "not productive at all" and they were "nowhere near reaching a conclusion".

For their part, Republicans are demanding spending cuts as a condition for the bill while Democrats want other fiscal-tightening steps that the GOP rejects.

US . . .



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