Live: ASX set to fall after Wall Street lost ground and US debt negotiations dragged on

Good morning, and welcome to the Markets Blog.  I’m Sue Lannin.

It feels like groundhog day as debt ceiling talks in Washington yield little progress on raising the US Government’s borrowing limit.

US president Joe Biden and Republicans who control the House of Representatives, led by speaker Kevin McCarthy, remain divided over how to rein in the federal deficit.

Democrats want to raise taxes on the wealthy, while Republicans want spending cuts.

The stand off saw US stocks slide.

The S&P 500 index fell 1.1 per cent, while the Dow Jones index lost 0.7 per cent.

The Australian dollar is down 0.6…

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