Saturday, Jun 25, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Stock Market

Stocks fall as hopes for a budget deal fade

NEW YORK -- Stocks closed lower today on concern that lawmakers will run out of time to reach a budget deal before year-end.

The Dow Jones industrial average lost 52 points to close at 13,139 in a shortened holiday trading session.

The Standard & Poor's 500 index fell three points to 1,427. The Nasdaq composite dropped 8 points to close at 3,013.

Sen. Joe Lieberman (I., Conn.) said that it is now “more likely we'll go over the cliff than not,” following the failure of a plan by House Speaker John Boehner's to allow tax rates to rise on wealthier Americans.

Failure to agree on a budget plan by Jan. 1 would lead to government spending cuts and tax hikes that could push the economy into recession.

The markets will be closed on Christmas.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…