European shares tentative as nerves over US debt talks linger

European shares opened cautiously on Monday and Wall Street futures struggled as traders awaited news on U.S. debt ceiling negotiations prior to the impending June 1 deadline. President Joe Biden and House Speaker Kevin McCarthy will meet to discuss the debt ceiling. A failure to lift the debt ceiling would trigger a default and chaos in financial markets, adding to interest rates. HSBC’s chief Asia economist, Frederic Neumann, believes the debt ceiling issues will be short-lived, despite risks of greater financial volatility. China’s ban on Micron helped stocks of Micron rivals rise and are likely to benefit as companies seek memory products from other sources.