Shares edge lower as U. S. budget talks stall
LONDON (Reuters) – Concerns about the deadlock in crucial U. S. budget talks capped gains in world equity markets on Friday, while falling yields on Spanish and Italian bonds kept the euro near a one-month high. Markets are on edge over the lack of progress by political leaders in Washington as a failure to resolve their differences by year-end would trigger automatic spending cuts and tax rises that will tip the U. S. economy into recession. Many investors also expect that once the so called ‘fiscal cliff’ is resolved, the brighter economic outlook for China and the U. S. . . .
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