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Minyanville's T3 Daily Recap: Senator Harry Reid's Fiscal Cliff Comments Spook Market
Major US indices finished in red numbers Tuesday after being rattled by bickering over the fiscal cliff. The Dow was hit hardest dropping 0.7% while the S&P dropped 0.5%. When fiscal cliff negotiations began two weeks ago lawmakers appeared more ready to compromise than previously expected helping to trigger the rally we saw last week. However talk is cheap and the squabbling has begun anew. Senate Majority Leader Harry Reid said there was "little progress" towards reaching a deal while Senate Minority Leader Mitch McConnell urged President Obama to "turn off the campaign." The market turned lower in the ...
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