Debt ceiling concerns loom as Biden and Congress discuss solutions.

1 min read
Source: Reuters.com
Debt ceiling concerns loom as Biden and Congress discuss solutions.
Photo: Reuters.com
TL;DR Summary

Time is running out to break the impasse on the U.S. government borrowing limit. President Joe Biden is meeting Congressional leaders on Tuesday to try to hash out a compromise to raise the debt limit and avoid a catastrophic default. Meanwhile, Turkey's presidential election heads to a run-off vote, causing the lira to hit a two-month low against the dollar and trading in Turkish blue-chip stocks to be briefly halted. In the tech sector, billionaire investor George Soros has sold his entire stake in Tesla, but loaded up on other big tech stocks including Netflix, Uber, chipmaker Qualcomm, and cloud-based data company Snowflake.

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