Stock exchange chairman criticizes Reagan budget

American Stock Exchange chairman Arthur Levittsaid President Reagan is losing the backing of some of his staunchest Wall Street defenders.

In a speech to the National Press Club, Mr. Levitt said a new survey of more than 400 business executives showed the most important single reason for concern was the size of the federal deficit, projected to be $91.5 billion in fiscal 1983.

Mr. Levitt's address was the latest exchange in a war of words between Washington and Wall Street.