President Joe Biden plans to return to the U.S. on Sunday, cutting short his upcoming Asia trip, NBC News reported on Tuesday, citing an anonymous source. Earlier Tuesday, White House spokesman John Kirby said Biden might not make planned stops in Australia and Papua New Guinea that were expected to happen in conjunction with his trip to Japan for a G-7 summit. “We’re re-evaluating,” Kirby told reporters. “There’s not been a cancellation, as yet, but that could happen.” The developments are coming as Biden and the four top U.S. lawmakers are meeting Tuesday afternoon on raising the ceiling for federal borrowing and avoiding a market-shaking default.

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President Joe Biden plans to return to the U.S. on Sunday, cutting short his upcoming Asia trip, NBC News reported on Tuesday, citing an anonymous source. Earlier Tuesday, White House spokesman John Kirby said Biden might not make planned stops in Australia and Papua New Guinea that were expected to happen in conjunction with his trip to Japan for a G-7 summit. “We’re re-evaluating,” Kirby told reporters. “There’s not been a cancellation, as yet, but that could happen.” The developments are coming as Biden and the four top U.S. lawmakers are meeting Tuesday afternoon on raising the ceiling for federal borrowing and avoiding a market-shaking default.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.