Markets on edge as debt limit debate drags on

The word of the day in financial markets: Anxious. Stocks fell in volatile trading Friday after a dismal report on economic growth added to a growing sense of unease as the federal government neared an Aug. 2 deadline to raise the nation’s borrowing limit. If Congress fails to act, the U.S. may not be able to pay all its financial obligations after Tuesday, including interest payments on bonds and the salaries of federal employees. A default on U.S. Treasury debt could wreak havoc on financial markets and the economy.

By: By Daniel Wagner, The Associated Press, The Jamestown Sun