Markets
US stocks fall on debt-ceiling uncertainty
NEW YORK : US stocks fell Tuesday as the deadline for raising the government's debt ceiling stood just one week away,
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The Dow Jones Industrial Average was down 89.54 points (0.71 percent) to 12,503.26 in closing trade.
The broader S&P 500 dropped 5.31 points (0.40 percent) to 1,332.12 while the tech-heavy Nasdaq Composite slipped 2.84 points (0.10 percent) to 2,839.96.
Republicans and Democrats remained deadlocked over the debt-ceiling issue on Tuesday amid deep disagreements over tax increases and spending cuts.
The White House and the US Treasury say Congress must raise the government's $14.29 trillion debt limit by August 2 to prevent a default, which would have devastating repercussions on the global economy.
Copyright AFP (Agence France-Presse), 2011