(Advertisement)

Budget jitters set in, stocks dive

Posted: December 22, 2012 at 1:49 a.m.

Trader Joseph Lawler (left) and specialist Jay Woods work Friday on the floor of the New York Stock Exchange, where stocks fell after a U.S. House bill to avoid end-of-the-year tax increases and government spending cuts stalled.

Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the “fiscal cliff.” Stocks fell sharply after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before tax increases and government spending cuts are scheduled to take effect.

This story is only available from our archives.

Business, Pages 28 on 12/22/2012

(Advertisement)



« Previous Story

NEWS IN BRIEF

Census form to be mailed to farmers Farmers, ranchers and other producers can expect to receive a 2012 Census of Agriculture form in the mail in early January as the U.S. D... Read »

Next Story »

Panel urges tougher British bank rules

Regulators in Britain should have the power to split up banks, a government-commissioned report concluded Friday, adding that proposed changes to the rules do not go far en... Read »