U.S. officials and investors around the world are watching to see how stock exchanges in Tokyo and Sydney will react to the impasse in debt negotiations as weekday trading begins at 8:00 p.m. Eastern time. Other prominent markets, including those in Hong Kong and Shanghai, are to open shortly. With the prospect of a U.S. default on August 2nd only nine days away, President Obama and Congress remain deadlocked over a plan for raising the federal debt limit.
WASHINGTON POST