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GLOBAL MARKETS-Markets on edge as US debt ceiling talks approach crunch time

News Snapshot:

Asian stocks and Wall Street futures slipped on Monday as U.S. debt ceiling negotiations approached crunch time after stalling last week, while lingering banking fears and fresh geopolitical worries capped sentiment. U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, less than two weeks before the June 1 deadline after which Treasury expects the federal government will struggle to pay its debts. A failure to lift the debt ceiling would trigger a default, sparking chaos in financial markets and a spike in interest rates. In early trade on Monday, S&P…

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