British MP calls American default 'next big iceberg' for economy
(NEWSER) - With America's $14.3 billion potential default just nine days away, markets are growing increasingly spooked by the rising danger, reports the Telegraph . “We may have a few stressful days coming up—stressful for the markets of the world and the American people,” says White House chief of staff Bill Daley. Analysts blamed those worries for sending Asian markets down today , with the China's Shanghai Composite Index off 2.7%, Australia's S&P/ASX 200 down 1.4%, and Japan's Nikkei, Korea's KOSPI, and Hong Kong's Hang Seng index all declining 0.8%. More»
