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'Cliff' pessimism delivers US stocks another loss

'Cliff' pessimism delivers US stocks another loss

US stocks sank again Friday, showing more doubts that politicians will be able to agree a deal to fix the fiscal cliff with only days before the year-end deadline.

After trading lower for most of the day amid uncertainty about last-minute negotiations in the White House, traders gave up and sold off at a stronger pace in the last half hour.

The Dow Jones Industrial Average finished off 158.20 points (1.21 percent) at 12,938.11.

The broad-market S&P 500 lost 15.67 (1.10 percent) to 1,402.43, while the tech-rich Nasdaq Composite shed 25.60 points (0.86 percent) to 2,960.31.

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