dollar index, which measures the currency against six major peers, rose 0.33% to 103.89, nudging further above a two-month high of 103.63 reached last week. Treasury yields, meanwhile, edged down to 3.7361%. Yields on one-month bills, which are being shunned on concerns about payments coming due when the Treasury is most at risk of running out of money, hovered near a record high of 5.8005%.īenchmark 10-year U.S. "T-bills were way ahead on this call, and they are not yet signalling an all-clear." "Equity markets are now beginning to fret about the debt ceiling debate," said Nicholas Colas, co-founder of DataTrek Research. That helped to drag the MSCI world equity index (.MIWD00000PUS), which tracks shares in 49 nations, down 1.01%. S&P 500 index (.SPX) ended down 0.73% by mid-day, the Dow Jones Index (.DJI) lost 0.77%, and the Nasdaq Composite (.IXIC) dropped 0.61%. Time is running short for a resolution, and the Treasury Department has warned that the federal government could be unable to pay all its bills by as soon as June 1 - just eight days away - and it would take several days to pass legislation through the narrowly divided Congress. McCarthy said earlier on Wednesday that while there are still differences between Democrats and Republicans over spending, he believed that a deal could be made. Negotiators for Democratic President Joe Biden and top congressional Republican Kevin McCarthy met again on Wednesday to end an impasse in talks. debt ceiling talks dragged on without resolution, stoking a general malaise in markets that saw safe-haven assets such as the dollar hold around recent highs.īut crude oil prices bucked the downtrend and kept rising, after a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts. TOKYO, May 24 (Reuters) - World stocks dropped on Wednesday as U.S.
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