Report: US Treasury to breach debt limit in October
Remember the frenzy over the debt ceiling? It's ba-ack. A report out Monday afternoon from Dow Jones says that the U.S. Treasury will reach its debt limit in mid-October. CNBC reports:
The U.S. Treasury will reach its debt limit in mid-October, Dow Jones reported on Monday, citing sources familiar with the matter.
That was "sooner than many on Capitol Hill had anticipated," the wire service said.
Stocks turned lower immediately on the news, after barely moving during remarks by Secretary of State John Kerry regarding chemical weapons use in Syria.
The HW 30 equity index moved into the red after posting nominal gains most of the trading day. Index laggards Monday include Realogy Holdings (RLGY), JPMorgan Chase & Co. (JPM), and Stewart Information Services Corp. (STC).