Heraldsun
:
AUSTRALIAN shares have hit a near 11-month low as investors head into what has been labelled possibly the most crucial weekend in history for financial markets.
Negotiations will continue in coming days after Republican leaders in the US House of Representatives postponed a vote on legislation to avert the threatened August 2 debt default.
"We're basically standing on the edge of an abyss peaking over, with the bottom nowhere to be seen," IG Markets strategist Ben Potter said.
"That's the situation facing all financial markets heading into a weekend that could prove to be one of the most crucial in history."
