At The Core
World News
Asian stock markets are diving into the red on Tuesday. As in Europe and on Wall Street, investors are still worried by the problems of sovereign debt hitting the euro area and the United States. France is again threatened by Moody's AAA rating, which places her under surveillance increased and Spain is still attacked on the bond markets, despite the political transition of the weekend.
The disappointment is great after the "super-committee" responsible for the debt of the United States, which announced Monday not to have reached an agreement between left and right. The twelve members of the joint committee were responsible for the deficit of 1200 billion and had until midnight Wednesday to address their recommendations. President Barack Obama assured that the United States were not at risk of default.He said he was determined to keep the pressure on elected officials and threatened to veto any attempt by Congress to mitigate the budget cuts that are now automatically take effect.
Standard & Poor's and Moody's reported that U.S. credit rating would not be affected by the failure of these discussions. But Fitch said it would take by the end of a decision on the consequences of the failure of the "super-committee".
"Big disappointment" expected by Japan
In Japan, the new lock worried. Japanese Minister of Finance, Jun Azumi, fears a "big disappointment" of markets. The negative effect is felt at least on the Tokyo Stock Exchange, which leaves 0.40% to 8314.74 points at closing.
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