Markets tumble as hardline Republicans threaten US debt deal
Hong Kong (AFP) May 31, 2023
Asian markets sank Wednesday on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit and risk a catastrophic default that could hammer an already fragile global economy. Worries that the Federal Reserve might increase interest rates next month, along with further signs the Chinese recovery was fading, added to the downbeat mood on trading floors.