Stocks tumble as 'fiscal cliff' deadline nears
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. The five-day losing streak for the Dow Jones industrial average was the longest since July.


The Dow dropped 158.20 points, or 1.2%, to 12,938.11 points, with losses accelerating in the last 20 minutes of trading as reports circulated that President Barack Obama would not be making a new budget proposal in a meeting with congressional leaders. (AP)