Dollar Index Tumbles Amid Record-Breaking US Debt

The US Dollar Index plummeted by 0.88% to 98.78 points amid growing concerns over the country's escalating debt burden.

A record-breaking $40 trillion in government debt has raised worries about essential public spending, including already constrained social safety programs, being severely impacted if interest servicing costs continue to rise.

The US federal deficit expanded in recent months due to tariff refunds, with total debt nearly doubling in less than a decade under the administrations of Donald Trump and Joe Biden.