Topic

US debt

US debt crosses USD40trn threshold after doubling under Trump and Biden

Updated 20 Aug, 2026 05:07am

WASHINGTON: Total US debt has topped USD 40 trillion for the first time, the Treasury Department said on Wednesday,...

Global finance: fault line in architecture

Published 28 Aug, 2025 05:50am

Markets are still pricing calm, but could they be ignoring a storm. The attempt to fire Fed Governor Lisa Cook has...

Wall Street Week Ahead: Nvidia earnings in focus as rising US yields, debt rattle market

Published 26 May, 2025 06:17am

NEW YORK: An earnings report from semiconductor giant and artificial intelligence bellwether Nvidia takes center...

Moody’s cuts America’s pristine credit rating, citing rising debt

Published 18 May, 2025 05:42am

NEW YORK: Moody’s downgraded the US sovereign credit rating on Friday due to concerns about the nation’s ...

Rising US debt stokes calls in Congress for special fiscal commission

Published 22 Nov, 2023 05:48am

WASHINGTON: The US Congress is facing growing calls to find a way to stem rising budget deficits and debt following...

Moody’s downgrades US debt rating outlook to negative

Published 11 Nov, 2023 11:58am

WASHINGTON: Moody’s on Friday downgraded its outlook on US debt to negative from stable, one week before crucial...

US debt downgrade knocks European stocks to two-week lows

Published 03 Aug, 2023 05:54am

PARIS: European shares tumbled to two-week lows on Wednesday, with broad-based losses as investors fled riskier...

U.S. Treasury can meet all obligations after debt ceiling suspension

Published 05 Jun, 2023 11:05pm

WASHINGTON: The U.S. Treasury said it can now meet the federal government's payment obligations after a debt ceiling...

Biden lauds ‘crisis averted’ with debt ceiling deal in first Oval Office address

Published 05 Jun, 2023 03:27am

WASHINGTON: US President Joe Biden declared a “crisis averted” on Friday in his first address from the White...

Biden signs debt ceiling bill into law, averting default

Published 03 Jun, 2023 11:38pm

WASHINGTON: US President Joe Biden on Saturday signed into law a debt ceiling bill passed by Congress after weeks of...

Wall St falls on Fed hike jitters ahead of debt ceiling vote

Published 01 Jun, 2023 03:34am

NEW YORK: US stock indexes fell on Wednesday as a deal to raise the nation’s debt ceiling headed for a crucial ...

Copper heads for second monthly drop on dismal China data

Published 01 Jun, 2023 03:34am

LONDON: Copper prices fell back towards six-month lows on Wednesday after data showed factory activity in top...

Oil falls on weak China data, stronger dollar

Published 01 Jun, 2023 03:34am

HOUSTON: Oil prices fell on Wednesday on a stronger US dollar and as weak data from top oil importer China raised...

Gold firms; set for monthly loss on dollar strength

Published 01 Jun, 2023 03:34am

NEW YORK: Gold firmed on Wednesday supported by lower Treasury yields but the dollar’s strength, with more ...

Race against time for US debt crisis bill in Congress

Published 31 May, 2023 03:57am

WASHINGTON: The bill hammered out by US leaders to prevent the country from a catastrophic default on its debts will...

Oil slides 4pc on worries about US debt ceiling

Published 31 May, 2023 03:56am

NEW YORK: Oil prices fell more than 4% on Tuesday on concerns about whether the US Congress will pass the US debt...

Nvidia tops $1trn in market value on Wall Street

Published 31 May, 2023 03:56am

NEW YORK: Chip company Nvidia exceeded $1 trillion in market value Tuesday as Wall Street stocks mostly rose,...

US debt ceiling deal faces its first test in Congress, amid right-wing pushback

Published 30 May, 2023 10:35pm

WASHINGTON: Right-wing Republicans said on Tuesday they oppose a bipartisan deal to raise the $31.4 trillion U.S....