Stocks continue slide in shortened Christmas Eve trading
Stocks continued their slide in a shortened Christmas Eve trading session as hope dimmed that Washington would fix the fiscal cliff before year’s end.
The Dow Jones industrial average was down 38 points, or 0.3%, to 13,152 shortly after the opening bell on Wall Street. Volumes were expected to be light in the holiday session.
The broader Standard & Poor’s 500 index lost 4 points, or 0.3%, to 1,426. The technology-heavy Nasdaq was down 9 points, or 0.3%, to 3,012.
After Speaker John Boehner’s “Plan B” flopped in the U.S. House, investors have become more pessimistic about the chances that Congress and President Obama would resolve the so-called fiscal cliff by Dec. 31.
Major U.S. indexes fell about 1% Friday. Economists warn that automatic spending cuts and tax increases could push the U.S. economy back into a recession.
U.S. markets will close at 10 a.m. PDT on Monday.
ALSO:
Inland Empire Health Plan moving to Rancho Cucamonga
George Takei launches petition to allow in-flight use of electronics
British television producer All3Media to consolidate in Westchester
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
