Boehner called the talks with Treasury Secretary Tim Geithner "disappointing".

The 9.5 percent fall was the worst since last year's uprising that toppled Hosni Mubarak.

There is good news for the housing market as prices are rising, sales are climbing and new home construction is starting to take off again. Sales of previously owned homes climbed steadily in October, rising to a 4.79 million annual rate, according to the National Association of Realtors. The sales rate beat most economists expectations and is 11 percent higher than a year ago, reports Bloomberg.

Europe's strongest economies continued to have modest growth but were dragged down by the sprawling debt crisis striking nations such as Spain and Greece.