Shares of Nasdaq Inc. NDAQ, shed 1.91% to $54.40 Tuesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, falling 1.12% to 4,145.58 and Dow Jones Industrial Average DJIA, falling 0.69% to 33,055.51. Nasdaq Inc. closed $14.82 below its 52-week high ($69.22), which the company reached on December 2nd. The stock underperformed when compared to some of its competitors Tuesday, as CME Group Inc. Cl A CME, fell 1.57% to $179.08 and Intercontinental Exchange Inc. ICE, fell 1.18% to...

Republicans in the House are signaling growing skepticism that the June 1 deadline set by Treasury Sec. Janet Yellen for lawmakers raise the debt ceiling is really set in stone. Those doubt are significant since the June 1 deadline is now just more than a week away, and the White House and Speaker Kevin McCarthy (R-Calif.) are both far apart from a deal. Disbelief in the date is fueling the right flank’s argument that Republicans should not give in on their debt limit increase demands over manufactured deadline pressure. Rep....

ouse Speaker Kevin McCarthy emerged from a pivotal one-on-one meeting with President Joe Biden Monday without a deal to raise the debt limit, but expressed optimism about reaching an agreement in time to avert a potentially catastrophic federal default. “I felt we had a productive discussion,” McCarthy said after the meeting. “I think the tone tonight was better than any other time we’ve had discussions.” McCarthy has insisted the Republican-controlled House will not raise the debt ceiling, which refers to the maximum amount the U.S. is authorized to borrow to...

Treasury Secretary Janet Yellen on Monday doubled down on her June 1 deadline for Congress to raise the debt ceiling, writing in a letter to House Speaker Kevin McCarthy (R-Calif.) it is “highly likely” the government could run out of money to pay off its bills in 10 days, as negotiations come to a boiling point and the country risks defaulting on its obligations for the first time. Yellen reiterated her weeks of pleas for Congress to strike a deal to raise the debt ceiling, saying that as more information...

Treasury Secretary Janet Yellen has confirmed to congressional leaders that the deadline to pass a debt ceiling increase and avoid the United States defaulting on its obligations is early June. In a letter to House Speaker Kevin McCarthy (R-CA), Yellen doubled down on her previous prediction that the U.S. could default as soon as June 1 without an increase in the debt ceiling being agreed to. EVERYTHING YOU NEED TO KNOW ABOUT TIM SCOTT AHEAD OF HIS BIG 2024 ANNOUNCEMENT "With an additional week of information now available, I am...

Secretary of the Treasury Janet Yellen sent yet another letter to House Speaker Kevin McCarthy (R-CA) on Monday afternoon, again warning that the United States is growing ever closer to defaulting on its debt unless a bill is passed by Congress and signed by President Joe Biden to increase the nation's debt limit. Notably, Yellen continues sending these letters to McCarthy — the man who, along with House Republicans, already passed a bill that would raise the debt ceiling and avoid default — while failing to dispatch similarly snide letters...

In a new letter written to House Speaker Kevin McCarthy, Treasury Secretary Janet Yellen warned that if Congress and the president do not reach a debt limit increase, the U.S. government will run out of money to pay debts by June 1. President Biden has negotiated with McCarthy for the last several weeks, and while both have sounded hopeful the two sides could reach a deal, they remain at an impasse. The House passed a debt limit increase in April that also includes a package of spending cuts for which...

WASHINGTON — Treasury Secretary Janet Yellen said Monday that it is "highly likely" the U.S. will run out of money to pay its bills as early as June 1 if the debt ceiling battle isn't resolved by then. The updated timeline comes after Yellen on May 15 set a June 1 deadline for the U.S. to extend the borrowing limit or risk a first-ever default on the country's debt, which she has repeatedly warned would have disastrous economic implications. "With an additional week of information now available," Yellen wrote in...

Treasury Sec. Janet Yellen on Monday warned lawmakers the nation will run out of funds to pay its debts by “early June, and potentially as early as June 1.” In a letter to Speaker Kevin McCarthy (R-Calif.) sent a little more than an hour before his scheduled White House meeting with President Biden to discuss the debt ceiling, Yellen offered little new information on a deadline, saying early June remained the deadline for Congress to take actions. “In my May 15 letter, I noted that our best estimate was that...

Treasury Secretary Janet Yellen warned Congress in a letter Monday that the U.S. government might not be able to pay the bills in just over a week — as early as June 1 — if Congress does not act to raise or suspend the debt ceiling. Her letter came as President Biden and House Speaker Kevin McCarthy were to meet at the White House to continue negotiations over a debt limit deal, amid escalating concerns that the U.S. could default on the nation's debts for the first time if Congress...