Talks to keep the United States from defaulting on its debts were continuing last night after Republicans agreed to resume negotiations.
The news came amid the backdrop of a threatened downgrade of its AAA credit rating as politicians reached the final 24 hours without a deal to end the crisis.
Fitch Ratings, one of the three big credit agencies, waited until the New York Stock Exchange had closed — down more than 100 points on the day — before announcing that it had reached a decision that could send a shockwave around global markets.
The US will hit its $16.7 trillion debt ceiling at midnight tonight, leaving it unable to borrow more and days away from running out of money to meet its bills. In