Friday, December 21, 2012

Washington Turmoil Sends Stocks Off a Fiscal Cliff

Last night, when Speaker Boehner was unable to find enough votes to pass a tax bill, stocks had another flash crash and the S&P 500 index dropped 50 points for a few minutes. Some relatively benign news this morning on consumer spending and income has given stocks some buoyancy, but the Dow is still down about 150 points.