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Stocks slip as worries about fiscal cliff return

2 years ago November 12, 2012 Nov 12, 2012 Monday, November 12 2012 Monday, November 12, 2012 11:19:46 AM EST in News
Source: Associated Press

NEW YORK - Stocks are slipping in midday trading on Wall Street, erasing an early gain, as investors again turn their focus to the approaching "fiscal cliff."

Trading was light. The federal government and U.S. bond trading were closed for Veterans Day.

Huge government spending cuts and tax increases are scheduled to kick in at the beginning of the new year unless a divided Congress and the White House can work out a compromise before then.

Last week the Dow dropped 434 points in two days after the election, giving it one of its worst weeks of the year.

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