“Fiscal Cliff” Warning Sends Stock Market Lower
Traders came back to work on Monday after the Thanksgiving weekend to the same old worries about the fiscal cliff and the European debt crisis.
The stock market fell in midday trading as Washington lawmakers and business groups bickered over the proper rates for taxing and spending. In Europe, leaders tried to cobble together another bailout loan for Greece.
The Dow Jones industrial average was down 91 points at 12,919 as of noon. The Standard & Poor’s 500 was down eight at 1,401 and the Nasdaq composite index slipped seven points to 2,960.