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Illustration: Annelise Capossela/Axios

Americans' medical debt added up to about $140 billion last year, according to new research published Tuesday in JAMA. Americans owe debt collectors more medical debt than any other source of debt.

By the numbers: Looking at 10% of all credit reports from credit rating agency TransUnion, researchers said they found nearly one in five Americans had medical debt in collections in June 2020.

  • The mean amount of debt was $429.

The big picture: Beyond this staggering economic sum — which works out to about $60 billion more than previous estimates — the study found a wide-reaching human impact.

Go deeper: America's biggest hospitals vs. their patients

Go deeper

Kate Marino, author of Markets
Oct 12, 2021 - Economy & Business

Evergrande isn't alone

Illustration: Aïda Amer/Axios

China Evergrande’s debt problems aren’t an anomaly. Signs of stress are piling up in China’s real estate development sector, and more companies are signaling they may not be able to pay back their debt.

Driving the news: Fellow builder Modern Land asked its bondholders if it could delay a bond payment by three months, and Sinic said it will likely default next week, Reuters reports.

FAA clears more planes after 5G fears

Photo: David McNew/Getty Images

The Federal Aviation Administration said Thursday it had approved nearly 80% of the U.S. commercial fleet to perform low-visibility landings at airports with new 5G services after fears of signal interference limited 5G rollout.

Why it matters: The FAA approvals will help provide more certainty after the agency raised fears that 5G signals could reduce the accuracy of certain equipment, known as radio altimeters, that helps planes land and take off in inclement weather.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Peloton stock tanks on report of production halt

Illustration: Aïda Amer/Axios

Peloton stock fell by as much as 25% on Thursday, following a CNBC report that the connected fitness company will temporarily halt production on its bikes and treadmills.

Why it matters: Peloton is viewed by many as a proxy for consumer behavior in the pandemic era, as its popularity surged when gyms closed and people wanted to exercise at home.