- In milestone, SpaceX 'catches' megarocket booster after test flight
- In a first, SpaceX 'catches' megarocket booster after test flight
- Bangladeshi Hindus shrug off attack worries to celebrate festival
- Ubisoft fears assassin's hit over falling sales
- Vietnam, China hold talks on calming South China Sea tensions
- SpaceX will try to 'catch' giant Starship rocket shortly before landing
- Japan's former empress Michiko discharged after surgery: reports
- Japan's former empress Michiko discharged after surgey: reports
- 'Little Gregory' murder haunts France 40 years on
- Tariffs, tax cuts, energy: What is in Trump's economic plan?
- Amazon wants to be everything to everyone
- Jewish school in Canada hit by gunfire for second time
- With medical report Harris seeks to play health card against Trump
- China-EU EV tariff talks in Brussels end with 'major differences': Beijing
- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- China offers $325 bn in fiscal stimulus for ailing economy
- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
Unsettled US debt talks weigh on global stocks
Wall Street stocks tumbled Tuesday on increased fears over a potential US debt default after the latest round of negotiations failed to produce a breakthrough.
While the White House pointed to some progress in the latest round of talks with House Speaker Kevin McCarthy, markets are beginning to get more worried about the situation, analysts said.
Treasury Secretary Janet Yellen has said an agreement must be reached by June 1.
"I think the realization hit people today, that for lack of a better word, it is getting close," said Steve Sosnick of Interactive Brokers.
"This is the first time that I really think there's been some real nervousness expressed about the debt situation," Sosnick said.
Stocks were in the red most of the day, but moved lower in the afternoon, with the S&P 500 ending 1.1 percent lower.
Earlier, European stock markets and major Asian indices also finished in the red.
Months of negotiations have failed to break the deadlock and lift the borrowing limit from the current $31.8 trillion, though Biden and McCarthy ended their latest meeting on Monday on a positive note.
"Stock market participants are appearing fatigued by all the talk and the absence of the all-important action of raising the debt ceiling with June 1 lurking as a potential X-date when the US might not be able to pay all its bills," said Briefing.com analyst Patrick O'Hare.
In Europe, eurozone stock markets dropped as data showed eurozone economic growth slowed in May. London's FTSE 100 also fell even as the IMF upgraded its forecast for the UK economy, saying it no longer expects a recession this year.
Back in the United States, the Federal Reserve remains in focus ahead of next month's policy meeting, as investors track whether it will lift interest rates again or leave them unchanged for the first time since starting its hiking campaign more than a year ago.
"The debt ceiling drama has been a permanent distraction of late, but other components in the fray include the specter of the Fed continuing to raise rates, because inflation remains too high," O'Hare said.
- Key figures around 2030 GMT -
New York - Dow: DOWN 0.7 percent at 33,055.51 (close)
New York - S&P 500: DOWN 1.1 percent at 4,145.58 (close)
New York - Nasdaq: DOWN 1.3 percent at 12,560.25 (close)
London - FTSE 100: DOWN 0.1 percent at 7,762.95 (close)
Frankfurt - DAX: DOWN 0.4 percent at 16,152.86 (close)
Paris - CAC 40: DOWN 1.3 percent at 7,378.71 (close)
EURO STOXX 50: DOWN 1.0 percent at 4,342.38 (close)
Tokyo - Nikkei 225: DOWN 0.4 percent at 30,957.77 (close)
Hong Kong - Hang Seng Index: DOWN 1.3 percent at 19,431.25 (close)
Shanghai - Composite: DOWN 1.5 percent at 3,246.24 (close)
Euro/dollar: DOWN at $1.0774 from $1.0813 on Monday
Pound/dollar: DOWN at $1.2415 from $1.2437
Dollar/yen: DOWN at 138.57 yen from 138.60 yen
Euro/pound: DOWN at 86.74 pence from 86.94 pence
West Texas Intermediate: UP 1.2 percent at $72.91 per barrel
Brent North Sea crude: UP 1.1 percent at $76.84 per barrel
burs-jmb/md
D.Philippon--CPN