Asian markets down on worry over US debt showdown
MUMBAI, India (AP) - Asian markets were weaker on Monday after heated political rhetoric from the U.S. raised worries that the partial shutdown of the American government could bring the world's largest economy close to defaulting on its debt.
Japan's Nikkei index, the regional heavyweight, slumped by 0.8 percent to 13,915.90. Hong Kong's Hang Seng index dipped 0.7 percent to 22,985.36. Losses weren't as steep on South Korea's Kospi, which fell less than 0.1 percent to 1,994.97.
Australia's S&P/ASX 200 fell one percent to 5,158.30, but trading volumes were light due to holidays in some parts of the country. Benchmarks in Indonesia, India and Taiwan also fell. China's markets were closed Monday for a public holiday.
Investor anxiety has risen as the U.S. budget impasse between Republicans and the White House drags on.