AM Report 24 Aug 17: US lower on debt ceiling, trade talks and weak housing numbers

US sharemarkets fell on Wednesday after President Trump vowed to shut down the government if Congress doesn't pass legislation to approve funds to build the border wall with Mexico. But markets recovered partially after House speaker Paul Ryan said a shutdown was unnecessary. Investors are also focussed on the estimated 12-day deadline for Congress to approve an increase in the debt ceiling. The Dow Jones index fell by almost 88 points or 0.4%. The S&P 500 fell by 0.4% while the Nasdaq lost 19 points or 0.3%.

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