Traders concerned about fiscal cliff stalemate
GLOBAL share markets are expected to come under increasing pressure this week, as the stalemate over United States budget negotiations continues.
US politicians need to agree on measures to avoid billions of dollars in tax increases and spending cuts that kick-in from January 1.
The head of investment markets research at Colonial First State Global Asset Management, Stephen Halmarick, says with the so-called fiscal cliff looming, time is running out for the issue to be resolved.
"It's really quite worrying that the US politicians, despite all the rhetoric and the election result, and the really quite dramatic negative effects on the economy if they don't come to a deal on the cliff, at this stage [are] still unable to come to a deal," he told ABC News Breakfast.
"I think you'll see, you know, quite negative market reactions as this week continues without a deal."
Read more at ABC news online.