Global markets shaky in face of debt crisis
As time runs short for raising the U.S. debt ceiling, financial markets around the world are TREMBLING:
With just over a week left before the federal government is set to exhaust its borrowing authority, financial markets are on edge.
U.S. stock market futures shuddered Monday, and Asian and European stocks dropped, as federal policymakers still had not come to an agreement to raise the nation’s debt ceiling and avoid default. Investors shunned risky assets and moved money toward safety. The tremors, though relatively muted for now, suggest that anxiety about the ongoing stalemate in Washington has crept into markets worldwide, dampening economic prospects as the reliability of the world’s most rock-solid credit has been called into doubt.
Before the Asian markets opened last night (American time), there had been WARNINGS of a possible panic. It didn’t come to that, but traders nonetheless exhibited a certain nervousness.