HONG KONG: Asian markets sank on Wednesday on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit and risk a catastrophic default that could hammer an already fragile global economy.
Worries that the Federal Reserve might increase interest rates next month, along with further signs the Chinese recovery was fading, added to the downbeat mood on trading floors.
The buoyant mood that started the week — after President Joe Biden and House Speaker finalised a debt deal — was giving way to a fear that the far-right Freedom Caucus could do the…
