Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from global markets overnight, as traders cashed in on recent strength in the markets ahead of the US Federal Reserve's monetary policy announcement later in the day. Concerns about the US reaching an agreement on raising the U.S. debt ceiling is also hurting sentiment. Asian markets closed mixed on Tuesday.
U.S. Treasury Secretary Janet Yellen has warned the Treasury might run out of money to cover obligations by June 1. The cost of insuring against a U.S. default hit fresh highs after Yellen said the government will be unlikely to meet all payment obligations by "early June."
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.