Wednesday, December 26, 2012

Stocks fall as lawmakers doubt budget deal

Stocks are down Wall Street amid concern that lawmakers will fail to reach a deal to stop the U.S. going over the so-called fiscal cliff.

The Dow Jones industrial average is down 32 points at 13,158. The Standard & Poor's 500 index is off four points at 1,426. The Nasdaq composite is down nine points at 3,012.

Sen. Joe Lieberman said Sunday that it "It's the first time that I feel it's more likely we'll go over the cliff than not," following the collapse late Thursday of House Speaker John Boehner's plan to allow tax rates to rise on million-dollar-plus incomes. Wyoming Sen. Jon Barrasso, a member of the Republican leadership, predicted the new year would come without an agreement.


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