Asian Stocks Fall, US Futures Down; Bailout Plan Worries

From Dow Jones via FX Street:

Asian share markets are mostly lower Friday with U.S. stock futures falling as uncertainty grows again on whether Congress will agree on a deal for authorities to buy toxic debt from U.S. financial firms.

U.S. stock futures are now down more than 1% in screen trade and Japan's Nikkei 225 has erased its early modest gains, and was last down 0.5%.

Deal or no deal is the main question being asked by markets. Only hours after it seemed that something would be in the bag soon, lawmakers are again squabbling over the details and indeed the overall merit of the plan.

Federal Reserve chief Ben Bernanke and Treasury Secretary Henry Paulson have headed back to Capitol Hill to try and shore up a deal, but senior Democrats and House Republicans are both making noises of concern about the cost involved, the impact on taxpayers and the detail of how the plan would actually work.

Any deal, if it eventuates, may be a pared-down version of the original plan, with strings attached to ensure oversight and transparency....MORE