Markets Lower After Debt Ceiling Disaster

ship shipwreck crash

Photo: Wollex

And the clock continues to wind down…One night after a humiliated John Boehner was forced to cancel a debt ceiling hike vote, due to lack of support from Tea Partiers (and no support at all from Democrats), markets are lower.

US futures initially sold of sharply on the news, and have managed to clw back some losses.

However, the tone is still clearly negative.

All that being said, the tone in several markets is calm. Treasuries are fine, gold hasn’t surged, etc.

BTW, we’re down to 92 hours.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at