World stocks tentative amid US debt impasse

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Associated Press

Posted on January 21, 2013 at 4:04 AM

Updated Monday, Jan 21 at 5:02 AM

BANGKOK (AP) — International stock markets made limited gains today amid a national holiday in the U.S. and nervousness over whether political leaders in Washington will be able to reach a deal on the government's debt limit.

Congress must agree to raise the limit on how much debt the U.S. can have by the end of February. Otherwise the country risks default and could be slapped with damaging credit downgrades.

Even if the ceiling is raised, it could come with a cost -- deep spending cuts demanded by Republicans.

Benchmark crude oil fell, but remained above $95 per barrel today. The dollar gained against the euro but fell against the yen.

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