Wall St wakes up to default threat

For several months, Wall Street has largely disregarded the prospect of a government default on its debt. However, the situation has changed.

With the deadline to raise the nation’s debt ceiling of $31.4 trillion rapidly approaching, and no resolution in sight, traders and executives are becoming apprehensive that President Joe Biden and Republicans will not resolve the deadlock until it is too late.

This has triggered heightened concerns about the potential threat that could unsettle markets and push the world’s largest economy towards recession, Politico reported.

"‘Nobody knows when it’s going to happen’: Wall Street wakes up to default threat."
READ MORE: https://www.politico.com/news/2023/04/24/wall-street-debt-limit-00093163

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