Investors traded nervously Tuesday as they kept an eye on Washington, where lawmakers are expected to vote this week on a deal to hike the US debt ceiling and avoid a painful default.
President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement at the weekend that saw both sides give ground, a week before a June 5 deadline when the government is expected to run out of cash to pay its bills.
The news provided some much-needed relief to markets, but now the two leaders must convince waverers on both sides to back the deal, with the House expected to vote Wednesday followed by the Senate.—APP
