Tuesday, 8 October 2013

US stocks fall, Japanese economic indicators decline

US stocks fell on Monday, with the S&P 500 falling 0.9 percent as lawmakers remained deadlocked over the extension of the government’s debt limit.

While the government's borrowing capacity is at risk, US consumers have been piling on debt. The Federal Reserve reported on Monday that consumer credit rose $13.6 billion in August, more than the $10.4 billion increase in July.

Elsewhere on Monday, Japan's Cabinet Office reported that its index of coincident economic indicators fell 0.1 point in August while its index of leading economic indicators fell 1.4 points.

Despite the fall in the coincident index, the government left unchanged its assessment of the economy as “improving”.

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