Global economy at risk as US debt limit battle continues.

US Treasury Secretary Janet Yellen has warned of "dreadful" global consequences if the US fails to raise its debt limit, which is set to expire on October 18. Yellen urged Congress to act quickly to avoid a potential default, which could have severe impacts on the global economy. The US has already reached its borrowing limit, and failure to raise it could lead to a government shutdown and a potential recession.