Stocks drift lower as US struggles to reach debt deal | The Malaysian Insight

European and US stock markets mostly drift lower on May 16, 2023 as traders await possible developments on a US debt deal necessary to avert a default. – EPA pic, May 17, 2023.

EUROPEAN and US stock markets mostly drifted lower yesterday as traders awaited possible developments on a US debt deal necessary to avert a default. Sentiment was also weighed down by data showing weakness in China’s economic recovery, with key indicators missing expectations owing to anaemic domestic demand.

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