Skip to content

Corruption Ledger

The Public Ledger of Corruption

  • Corruption
    • banks
    • corporate
    • environment
    • government
    • health
    • leaks
    • misinformation
    • protest & unrest
  • Crime
  • Sanctions
    • sanctions news
    • global sanctions feed
    • european sanctions feed
    • canadian sanctions feed
    • US sanctions feed
  • International Conflict
    • war
    • war machines
  • Business & Economy
  • Tech
  • Privacy
  • Regions
    • Africas
    • Asias
    • Europe
    • Oceania
    • Middle East
    • U.S.
    • World
  • News about Journalism
  • Toggle search form
  • US / SEC sues Coinbase and Binance, files motion to freeze Binance assets _enforcement
  • Document reveals why Canada arms Saudi Arabia – media Business & Economy
  • Report: Russia formally charges Wall Street Journal reporter Censorship Free Speech
  • Kremlin comments on WSJ correspondent arrest Aerospace
  • Nord Stream attack: Leaked US intel. suggests pro-Ukrainian group behind sabotage + Corruption Ledger #RealityCheck corporate corruption
  • Kremlin critic Kara-Murza goes on trial for treason Censorship Free Speech
  • Wave of raids, arrests target government critics in Tunisia government corruption
  • Russia vs. journalism: Vladimir Putin must release Wall Street Journal reporter Evan Gershkovich Censorship Free Speech

US stocks fall again as key debt deadline looms

Posted on May 24, 2023May 25, 2023 By 5amResearch No Comments on US stocks fall again as key debt deadline looms

NEW YORK – Wall Street stocks fell again on Wednesday on rising anxiety over US debt ceiling talks as a critical deadline nears without an agreement.

President Joe Biden offered to freeze government spending at current levels, a move that would reduce the deficit by US$1 trillion (S$1.3 trillion) and marks a concession to congressional Republicans.

The US government could run out of money to pay for its existing obligations as early as June 1, according to Treasury Secretary Janet Yellen.

“Everyone has seen this movie before and now we are finally starting to see some market stress as debt-ceiling talks remain at an impasse,” said Oanda’s Edward Moya.

The Dow Jones Industrial Average dropped 0.8 per cent to 32,799.92.

The broad-based S&P 500 shed 0.7 per cent to 4,115.24, while the tech-rich Nasdaq Composite Index declined 0.6 per cent to 12,484.16.

Minutes from the latest Federal Reserve meeting showed economists at the central bank still expected a “mild recession” earlier this month.

“Real GDP was projected to decelerate over the next two quarters before declining modestly in both the fourth quarter of this year and the first quarter of next year,” according to the Fed.

Among individual companies, Citigroup rose 1.3 per cent as it announced a plan to spin off its Mexican consumer banking unit Banamex in a public offering.

Cybersecurity company Palo Alto Networks advanced 7.7 per cent as it reported a 24 per cent jump in quarterly revenues and lifted some of its full-year profit benchmarks.

Retailers Abercrombie & Fitch and Kohl’s both surged following better than expected results, with Abercrombie rising more than 31 per cent and Kohl’s 7.6 per cent. AFP

Related

https://www.straitstimes.com/business/companies-markets/us-stocks-fall-again-as-key-debt-deadline-looms

Business & Economy, corporate corruption, Corruption, government corruption, x.straitsTimes, z-Exclude Tags:All Regions, z.straitstimes

Post navigation

Previous Post: Chinese hackers breach US critical infrastructure in stealthy attacks -NSA, FBI, NSA, CISA
Next Post: US approves $385m sale of surface-to-air missile defence system to Ukraine

You must log in to post a comment.

Wall of Shame

  • Ledger of Lies
  • Enforcement Actions
  • Misinformation & Censorship
  • In Court

Recent

  • US / SEC sues Coinbase and Binance, files motion to freeze Binance assets
  • Raging Canada Wildfires Threaten Critical Infrastructure, Force Evacuations
  • Disgruntled employer Fox News says Tucker Carlson breached his contract: Report
  • Saudi crown prince, US’ Blinken had ‘candid’ talks in Jeddah
  • Italian police search former defense exec’s home in corruption probe
  • Meta to let users refuse its cross-site tracking following German antitrust intervention
  • Ex-CIA advisor theorizes date when Dollar’s dominance may start to crumble
  • Treasury ‘sleeping at the wheel’ on PwC tax scandal
  • Biden Signs Bill to Raise US Debt Ceiling to Avoid Default
  • A federal judge rejects Tennessee’s anti-drag law as too broad and vague
About CL
  • Is OKX/OKEX Exchange selling imaginary crypto? Business & Economy
  • Chinese foreign minister warns of conflict unless U.S. changes course -AP + Corruption Ledger #RealityCheck corporate corruption
  • No separate trial for former JPMorgan executive in Epstein case banks
  • Pussy Riot Member Accused of ‘Insulting Religious Sensibilities’, adds her to wanted list Censorship Free Speech
  • Silicon Valley Bank execs, parent company sued after collapse banks
  • As the US cracks down on crypto, Hong Kong extends a warm welcome Business & Economy
Rumble Video

Copyright © 2022 Corruption Ledger. This web site contains no ads.