Asian Markets Down As US Budget Woes Drag On
October 4, 2013 by staff
Asian Markets Down As US Budget Woes Drag On, Uncertainty about how long the partial shutdown of the U.S. government will last kept global stock markets on edge Friday.
Some 800,000 federal workers and scores of agencies were idled earlier this week after a sharply divided U.S. Congress failed to agree on short-term funding for the government to pay its bills beyond Monday, when the fiscal year ended.
Markets initially took the passing of the deadline and the partial shutdown of nonessential government services in stride. But investor anxiety has risen as the budget impasse between Republicans in the House of Representatives and the White House drags on.
Republicans are insisting that President Barack Obama accept changes to the health care law he pushed through three years ago as part of a budget bill. Obama refuses to consider any deal linking the health care law to routine legislation needed to extend government funding.
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