‘Dr. Doom’ Nouriel Roubini says failure to raise debt ceiling would cause a market crash

Dr. Nouriel Roubini, Professor, New York University speaks on stage for MegaThreats: Ten Dangerous Trends that Imperil Our Future, and How to Survive Them during The 2022 Concordia Annual Summit - Day 3 at Sheraton New York on September 21, 2022 in New York City. (Credit: John Lamparski—Getty Images for Concordia Summit)

A failure to reach a deal to raise the debt ceiling before next week’s “hard deadline” will trigger a market crash, Wall Street’s “Dr. Doom” has warned.  

Roubini Macro Associates CEO Nouriel Roubini—nicknamed “Dr. Doom” on Wall Street after predicting the 2008 financial crisis—told Bloomberg TV at the Qatar Economic Forum on Wednesday that negotiators taking the deal to the wire were creating risks for the stability of financial markets.