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MarketWatch for Wednesday, October 9, 2013

If you're keeping on top of the stock markets this morning, Wednesday, October 9, 2013...
If you're keeping on top of the stock markets this morning,  Wednesday, October 9, 2013...


The Nikkei is up 143 points today in trading in Japan.
On Wall Street, the Dow shed another 160 points, wiping out nearly all of its September gains, on uncertainty over the Washington stalemate and debt ceiling.
And the Nasdaq sank 75.


Investors continued dumping stocks. They're worried that the deadlock in Washington over the debt limit could lead to the U.S. defaulting on its debts for the first time in history. A default could freeze the credit markets, push interest rates higher and derail the economic recovery. President Obama warned that the economy faces a deep recession if Congress can't agree on raising the debt limit.

After the closing bell, the aluminum giant Alcoa kicked off earnings season with quarterly profits that beat estimates.

A new survey finds more business people are being frugal when using their corporate credit card to dine out.  Instead of eating at fancy restaurants, they're opting for fast food chains, even when the boss is paying. The survey found traveling business people frequent Starbucks more than any other food establishment followed by McDonald's, Subway and Panera Bread.

A library with no books?  Bibliotech may not have  physical books, but it does have a catalog of 10,000 e-books. The digital library opened last month and serves a mostly Hispanic neighborhood in San Antonio where at least 40 percent of households don't have a computer or internet access.

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