December 27, 2012 at 12:08 PM EST
The Dow Now: Fiscal Cliff Warning by Harry Reid Sends Stocks Spiraling
MINYANVILLE ORIGINAL US stocks dropped sharply in mid-Thursday trading after Senate Majority Leader Harry Reid cautioned that the US was likely to fall over the fiscal cliff.   "It looks like that's where we're headed " said Reid when asked about the looming fiscal cliff earlier today. With only days to go before a series of automatic tax increases and spending cuts go into effect President Obama and Congressional leaders are frantically trying to work out a deal in Washington but a huge gap still remains between Democrats and Republicans. The Dow Jones Industrial Average (INDEXDJX:.DJI) was down 0.68% ...
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