Cliff fears depress markets

With just hours left before the US hits the “fiscal cliff”, stocks on the other side of the world wilted as investors sold off riskier assets to lock in profits just in case budget negotiations fail in Washington.

Cliff fears depress markets

With just hours left before the US hits the “fiscal cliff”, stocks on the other side of the world wilted as investors sold off riskier assets to lock in profits just in case budget negotiations fail in Washington.

American political leaders face a deadline tonight to reach an agreement before steep tax increases and spending cuts begin to take effect January 1 – this, at a time when the US economy is still struggling to recover from the last recession.

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