Markets
Debt stalemate weighs on US stocks
NEW YORK : US stocks opened lower Wednesday as Congress continued squabbling over the debt ceiling and fears mounted
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The Dow Jones Industrial Average dropped 70.09 points (0.56 percent) to 12,431.21 in the first five minutes of trading.
The broader S&P 500 shed 9.32 points (0.70 percent) to stand at 1,322.62, while the tech-heavy Nasdaq Composite tumbled 19.39 points (0.68 percent) to 2,820.57.
In Washington, Republicans and Democrats remained far from agreement despite a deadline set by the US Treasury for next Tuesday, when it says the government's $14.29 debt ceiling must be raised to avoid a potentially calamitous default.
Copyright AFP (Agence France-Presse), 2011