Stocks Fall on Debt-Deal Impasse as Deadline Looms: Markets Wrap
- Investors demand premium for US debt most at risk of default
- Rout in luxury-good makers wipe out $30 billion in value
This article is for subscribers only.
US stocks fell and short-dated Treasury bills extended losses as negotiations over raising the US debt ceiling remained at an impasse.
Negotiations continued Tuesday. However, progress appeared limited, with some House Republicans questioning the urgency of a deadline imposed by Treasury Secretary Janet Yellen for when the government will start missing debt payments.