US Markets closed in losses - ZENMoney

In US markets, Major indices closed in losses as concern grew that a deadlock among US lawmakers over the debt limit could lead to a government default. The indices further dragged due to a fall in internet shares like Facebook Inc. and Yahoo Inc. Xerox Corp. slid after announcing that the US has been probing the accounting practices of its outsourcing division.

On the European front, the British Bench mark fell as weak British's retail sales growth data and downbeat analyst comments hit retailers. The indices were further pressurised as fiscal deadlock in the United States kept broader sentiment subdued.

Nikkei opened on a negative note during morning session due to overnight fall in US markets and due to concern that the political deadlock over the US debt limit could lead to a government default. Stock in Panasonic Corp shed after a Nikkei newspaper reported that the company will stop making plasma television panels around the end of the fiscal year as the segment contributed to two consecutive years of net losses. A fall in Yen against US dollar pushed the indices to positve terrance.

Source : Equity Bulls

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