The US could breach the debt ceiling even sooner than predicted without action from Republicans
“Trump backs down on tariffs, again. And it doesn’t look strategic,” a headline blared on Wednesday afternoon.
At the end of trading, equities had recovered a portion of their losses. But plenty of damage had been done. Markets were thrown into turmoil, interest rates jumped and business activity took a hit. Beyond that, the possibility of a recession grew – and the possibility of a default by the US inched up to 6%, according to prediction markets.
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