Debt ceiling concerns weigh on market outlook.
Markets fell on Tuesday as investors awaited news on the debt ceiling deal. Even if a deal is reached, analysts warn that the US Treasury will have to issue a lot of debt, which could remove liquidity from the broader capital markets. However, there were pockets of good news, with vaccine manufacturers' stocks rising amid news of a fresh Covid-19 wave in China, and PacWest surging after announcing it would sell its real estate loans. Apple has entered a multibillion-dollar deal with Broadcom to design and build 5G radio frequency components in the US, while Alibaba will lay off 7% of its employees in its cloud computing unit as the division prepares to go public.
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- Debt ceiling default could send stocks into bear market: Strategist Yahoo Finance
- What Debt Ceiling Crisis? These 3 Stocks Still Look Attractive InvestorPlace
- FANG'd Out, S&P Rivals Debt Ceiling for Market Attention Bloomberg
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