Stocks fell as traders were discouraged by a lack of progress on budget talks. President Obama and House Speaker John Boehner met Thursday to discuss a budget deal but reported no progress and Boehner returned home to Ohio Friday. Investors remain confident the two sides will reach a deal, said one investment adviser, but the more time it takes, the more anxious they get. Apple also dropped following a disappointing debut of the iPhone 5 in China. The Labor Department said a fall in gas prices pushed down the consumer price index last month. Gas prices sank 7.4 percent. Consumer prices have risen 1.8 percent over the past year.
Stocks slip on Wall Street; Best Buy drops
Associated Press December 15, 2012
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