US House Speaker McCarty: No House support for Senate funding bill

Republican US House of Representatives Speaker Kevin McCarthy said on Wednesday that he does not see support for the Senate funding bill.

McCarthy added that he wants to sit down with US President Joe Biden to discuss border security. On Tuesday, the US Senate presented a funding bill. Republican-controlled House of Representatives, however, want to attach border and immigration restrictions to the bill. McCarthy called on President Biden to agree to tighter border controls to prevent a government shutdown.

Market reaction

This development seems to be weighing on risk mood. After opening in positive territory, Wall Street's main indexes turned south and were last seen trading virtually unchanged on the day.