BY JONATHAN CHENG
Financial investors grew increasingly worried Wednesday about lawmakers' failure to reach accord on raising the debt ceiling, pushing U.S. stocks to their worst one-day drop in two months and weakening the demand for Treasury securities.
The Dow Jones Industrial Average fell 198.75 points, or 1.6%, to 12302.55. The daily decline was the fourth straight, leaving the Dow down 3.3% in that period and on pace for its worst week since August 2010. Risk-averse investors began selling Treasury bills maturing in coming weeks, and an auction for Treasury debt drew lackluster interest. Asian markets opened lower on Thursday morning, with the ...
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