Business

Stocks fall as sides snipe in ‘cliff’’ talks

Advertisement

Stocks posted their first loss of the week as President Obama and congressional Republicans sniped at each other as a deadline to avoid tax increases and government spending cuts drew closer. Obama said he and House Speaker John Boehner were ‘pretty close’ to a deal to avoid the so-called fiscal cliff, but the Republicans keep finding ways ‘to say no as opposed to finding ways to say yes.’ A defiant Boehner called for Obama to offer a plan balanced between spending cuts and tax hikes. The S&P 500 had gained more than 2% over the previous two days in part because of optimism about a deal — optimism that seemed to melt away on Wednesday.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com