Stock market today: World stocks slide as U.S. debt worries mount
CTV
Global stock markets and Wall Street futures fell Wednesday as the U.S. government crept closer to a potentially disruptive default on its debt.
Global stock markets and Wall Street futures fell Wednesday as the U.S. government crept closer to a potentially disruptive default on its debt.
London and Paris both opened down 1.5%. Shanghai, Tokyo and Hong Kong also declined.
Wall Street's benchmark S&P 500 index fell 1.1% on Tuesday after Speaker Kevin McCarthy of the House of Representatives said, "We're not there yet" on a deal. That followed a meeting Monday with U.S. President Joe Biden that ended with no agreement.
"McCarthy's comments have thrown cold water" on sentiment, Vishnu Varathan of Mizuho Bank said in a report. He said the slide in prices is "paying back for premature optimism around a debt deal."
In early trading, London's FTSE 100 sank to 7,649.97. The CAC 40 in Paris retreated to 7,264.36 and the DAX in Frankfurt lost 1.3% to 15,936.54.
On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were off 0.3%.
On Tuesday, the Dow dropped 0.7% and the Nasdaq composite lost 1.3%.
