Some analysts say a drawn out debt ceiling fight could increase volatility on a US stock market where valuations have become stretched with prices near record highs. Other worries include a looming unwind of the Federal Reserve’s easy money policies and a resurgence of Covid-19 that threatens to dent growth.
NEW YORK: The economic boost from an expected US$1 trillion (RM4.21 trillion) infrastructure bill working its way through the US Senate has helped push Wall Street stocks near record levels, but some investors are concerned that the next two months in Washington could be rocky.
At issue is not only the bipartisan infrastructure bill, but an expected US$3.5 trillion (RM14.76 trillion) in proposed spending in a Democrat-led reconciliation bill.
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