Asian stocks hit two-month lows on Thursday and the dollar rose on safe-haven demand as the impasse in negotiations to raise the U.S. debt ceiling and warnings of a possible U.S. credit rating downgrade spooked investors.
Traders remained wary of a possible catastrophic default, with U.S. Treasury Secretary Janet Yellen maintaining early June as a deadline.
Chinese shares edged down slightly amid U.S. debt ceiling jitters and after reports of a new COVID wave in the country. The benchmark Shanghai Composite Index slipped 0.1 percent to 3,201.26 ahead of a long holiday weekend.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.