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World stocks stall as US budget talks sour

S.China Morning Post
Thursday, 20 December 2012

BANGKOK (AP) — World stock markets faced resistance Thursday after talks turned sour among U.S. political leaders trying to reach an agreement over how to avert an economically disastrous "fiscal cliff" before the end of the year. A downturn in U.S. housing starts also hurt sentiment.

Negotiations between President Barack Obama and Republicans in Congress descended into acrimony Wednesday after the White House threatened to veto House Speaker John Boehner's alternative tax plan as the Jan. 1 deadline to avoid sweeping tax increases and government spending cuts draws closer.
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Midday Market Wrap: December 21, 2012
Source: Market News Video
News video: Midday Market Wrap: December 21, 2012Stocks are sharply lower on news budget talks have broken down between Republicans and President Obama. House speaker John Boehner says he still wants a deal with the President to avoid massive tax hikes in January.

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