US Treasury Sec. Yellen: There will be some obligations we will be unable to pay

"It is hard to be precise exactly which day we will run out of resources,"  US Treasury Secretary Janet Yellen said regarding the debt-ceiling deadline on Wednesday, as reported by Reuters.

Yellen further added that they will try to increase the level of precision on the date and noted that there will be some obligations that they will not be able to pay.

Market reaction 

Markets remain risk-averse in the American session following these comments. As of writing, the S&P 500 Index was down 0.9% on a daily basis at 4,109.