Stocks Fall for Fifth Straight Day; Worst Losing Streak Since July
Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline.
Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline.
Stocks fell Thursday, putting the market on track for its fourth straight loss, after consumer confidence fell sharply in December as Americans worried about higher taxes and government spending cuts.
The Dow Jones industrial average is ending the day down 185 points at 12,570. The Standard & Poor's 500 index is down 19 at 1,355. The Nasdaq composite index is closing down 37 at 2,846.
Stocks are closing with their worst one-day loss of the year as investors look past the election and focus on big problems ahead in Washington and in Europe.
A bruising session on Wall Street Thursday wiped more than 500 points off the Dow - its worst drop since October 2008. Driving the fear is growing concern about the possibility of another recession. Will the selloff continue Friday? It all depends on the Labor Department's employment report.
Stocks closed lower for a second day, dragged down by technology companies and concerns about Europe's debts. European finance ministers approved $110 billion in rescue loans to Portugal on Monday, but have yet to decide on another rescue package for Greece.





