The dollar slid to a record low versus the Swiss franc, stocks fell and the cost of insuring U.S. debt rose to a 17-month high as President Barack Obama dueled with House Speaker John Boehner over the U.S. debt limit. Cotton and oil led commodities lower. The dollar depreciated against all 16 major peers at 10:18 a.m. in New York and dipped below 80 centimes versus the franc. The Standard & Poor’s 500 Index lost 0.4 percent to 1,331.89 and the Stoxx Europe 600 Index fell 0.8 percent. Credit- defaults swaps on U.S. debt increased one basis point to 57 basis points. Crude oil sank 1 percent to $98.20 a barrel.
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