EXTRACTS FROM EQUITY RESEARCH DESK • U.S. stocks fell, giving - TopicsExpress

EXTRACTS FROM EQUITY RESEARCH DESK • U.S. stocks fell, giving the Standard & Poor’s 500 Index its biggest two-day loss since June, as concern grew that a deadlock among U.S. lawmakers over the debt limit could lead to a government default. Dow 14776.5 -159.7 -1.07%, Dow Futures 14753 +39.0 +0.27% • Asian stocks fell on concern the U.S. political impasse over the debt limit may lead to a default and after the International Monetary Fund cut its global outlook. Japanese shares reversed losses after the yen weakened. Hangseng 23022.6 -156.3 -0.67% Nikkie 13919.9 +25.3 +0.18%, Sgx Nifty 5915.0 -33.0 -0.55% • President Obama has said he has yet to see serious proposals from the Republicans that would allow both sides to resolve their core differences. • President Obama will announce Janet Yellen as the next chair of the Federal Reserve. Yellen is widely perceived as being more dovish on monetary policy and investors expect her to take a slower path towards a reduction of the Feds bond-buying program. The announcement is scheduled for 3pm ET on Wednesday

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