• In this Wednesday, Oct. 8, 2014, file photo, American flags fly in front of the New York Stock Exchange. European shares rose on Monday, May 2, 2016, despite a poor start for the week in Asia, where the Tokyo benchmark fell more than 3 percent as investors registered their disappointment over the lack of new stimulus from Japan's central bank. (AP Photo/Mark Lennihan, File)

    US stocks rise slightly in morning trade; Japan sinks

    MANILA, Philippines (AP) — Asian stocks were mostly up Tuesday after U.S. stock indexes moved solidly higher, recovering some of last week’s steep declines.

    Updated: 9:50 pm

  • In this Wednesday, July 29, file 2015 photo, the Puerto Rican flag flies in front of Puerto Rico’s Capitol as in San Juan, Puerto Rico. Puerto Rico Gov. Alejandro Javier Garcia Padilla said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Ricardo Arduengo, File)

    Q&A: Puerto Rico’s debt crisis explained

    NEW YORK (AP) — Puerto Rico’s debt crisis has reached a new level, with the island’s governor saying Puerto Rico will not pay most of its $470 million in debt payments due by Monday.

  • In this Wednesday, July 29, file 2015 photo, the Puerto Rican flag flies in front of Puerto Rico’s Capitol as in San Juan, Puerto Rico. Puerto Rico Gov. Alejandro Javier Garcia Padilla said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Ricardo Arduengo, File)

    Q&A: Puerto Rico’s debt crisis explained

    NEW YORK (AP) — Puerto Rico’s debt crisis reached a new level late Sunday, when the island’s governor said Puerto Rico would not pay most of its $470 million in debt payments that are due by Monday.