U.S. stock futures fell, indicating the Standard & Poors 500 Index will drop after rallying within 1.4 percent of a three-year high, as President Barack Obama and Congress failed to reach an agreement on raising the federal debt limit, intensifying concern the nation will default. S&P 500 futures expiring in September declined 0.9 percent to 1,328.80 at 9:29 a.m. in Tokyo. Dow Jones Industrial Average futures lost 111 points, or 0.9 percent, to 12,510.
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