Some Asian stock markets are up and some are down following a rough U.S. trading session.
Japan’s Nikkei is up 0.1%.
Korea’s Kospi is up 0.2%.
Australia’s S&P/ASX is down 0.7%.
Hong Kong’s Hang Seng is down 0.2%.
The Shanghai Composite is down 0.4%.
After the U.S. markets closed, the U.S. deficit reduction super committee officially announced that it failed to reach a deal to cut the federal budget deficit by $1.2 trillion. The failure triggers $1.2 trillion in automatic cuts starting in 2013. Credit rating agencies S&P and Moody’s quickly came out to reiterate their ratings on the U.S. sovereign debt rating.
U.S. futures are trading slightly higher tonight.