Why October 19 could be a catastrophic day for the US economy

The United States could be just weeks away from defaulting on its debt for the first time ever.

News: What you need to know about the markets     Why October 19 could be a catastrophic day for the US economy The United States could be just weeks away from defaulting on its debt for the first time ever. Read more »   Fitch warns debt ceiling fight could cost America its AAA credit rating Fitch Ratings warned Friday that the fight in Washington over raising the debt ceiling could force the firm to downgrade America's AAA credit rating. Read more »   Car sales plunge as chip shortages choke off supply New car sales plunged over the last three months in the United States despite strong demand, as the shortage of computer chips and other supply chain issues caused shutdowns at auto factories and choked off the supply of vehicles. Read more »   Low-wage workers are getting 'eye-popping' pay raises, Goldman Sachs says Low-wage workers are making "eye-popping" gains in their paychecks, according to Goldman Sachs. Read more »   Congress prevented one crisis. Another looms Congress started the week with an urgent to-do list. It may have crossed off one item, but crucial issues concerning investors still haven't been resolved. Read more »   A key measure of inflation surged to a new 30-year high A key measure of inflation hit a new 30-year high in August, the Bureau of Economic Analysis reported Friday. Read more »

Dow Nasdaq S&P +482.54   +118.12   +49.50 34,326.46   14,566.70   4,357.04 +1.43%   +0.82%   +1.15% YTD +12.15%   YTD +13.02%   YTD +16.00%

Biggest Winners CF Industries Holdings Inc +9.53%   Merck & Co Inc +8.37%   Live Nation Entertainment Inc +8.34%   Delta Air Lines Inc +6.50% Biggest Losers Kroger Co -3.19%   Xylem Inc -1.92%   Walmart Inc -1.67%   Autozone Inc -1.51%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $75.76 +0.73 / +0.97% Gold $1,760.10 +3.10 / +0.18% 10-yr 1.47% -0.06 Euro $1.16 +0.00 / +0.17%

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNowFeedback@turner.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNowFeedback@turner.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2021 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303