Asian stocks fall as U.S. debt stalemate continues
Asian shares fall on US default fears
By Danny McCord | AFP – 1 hr 39 mins agoRelated Content
Traders monitor stock prices at the Hong Kong bourse. Asian stocks have fallen as …
Chart plotting a history of US debt from 1980, including estimates to 2016
Asian stocks fell on Monday as US talks aimed at raising the country's debt limit fell apart, raising the spectre of a default, although losses were muted on expectations a deal would be reached.
The crisis weighed on the dollar, sending it to its lowest level against the yen since just after the March 11 earthquake in Japan, which prompted an intervention by Tokyo and its G7 partners.
Tokyo closed 0.81 percent lower, giving up 82.10 points to 10,050.01 and Seoul shed 0.96 percent, or 20.75 points, to end at 2,150.48.
Sydney fell 1.58 percent, or 72.5 points, to finish at 4,530.4 while Hong Kong was 0.80 percent lower in the afternoon.
Shanghai tumbled 2.16 percent amid government investment fears following a fatal train crash over the weekend. end quote as of 1:20 AM Monday PDT.
I heard a quote from a CNN commentator that he believed that the pain of the world stock markets crashing would be the adult in the room that forces Congressional and Presidential action. Even if the Congress can't get it together in the end "Money Talks". A similar thing happened when the TARP got voted down the first time by Congress when they realized that they had to pass it or things were just going to get worse and worse. This likely is another similar situation this week.
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