Wall Street briefly cuts losses on Obama briefing
November 15, 2012 5:56 AM EST
Stocks briefly trimmed losses on Wednesday as President Barack Obama pushed for his proposal to have the wealthy pay more in taxes as a way to tame the federal deficit.
Taking a hard line in his opening bid before he begins fiscal talks with U.S. lawmakers later in the week, the president also said he was encouraged that some Republicans have agreed to raising new revenues.
The Dow Jones industrial average <.DJI> was down 77.75 points, or 0.61 percent, at 12,678.43. The Standard & Poor's 500 Index <.SPX> was down 6.90 points, or 0.50 percent, at 1,367.63. The Nasdaq Composite Index <.IXIC> was down 10.48 points, or 0.36 percent, at 2,873.41.
(Reporting by Angela Moon; Editing by Jan Paschal)
Most Popular Slideshows
- George Clooney And Amal Alamuddin's Wedding In Venice: Photos Of Groom And His Family, Friends [Slideshow]
- NFL Recap: New York Giants 45, Washington Redskins 14 [PHOTOS]
- Walking Is Superfood For Fitness; Celebrities Who Walk For Health
- Photos Of George Clooney And Amal Alamuddin, They Get Married Again On Monday [Slideshow]
Join the Conversation
- 3 Reasons to Get the Samsung Galaxy Note 4 Instead of the iPhone 6
- iPhone 6 vs Moto G 2014: Motorola’s Budget Smartphone Takes On Apple’s Premium Smartphone
- Google HTC Nexus 9 Tablet October 24 Launch Date Benefits Many
- Galaxy Note 4 vs Nexus 6: Which Smartphone Dominates
- MH 370 Search In Ocean To Intensify With Hi Tech Ships Joining The Plane Hunt From October
- New Windows OS Is Not Windows 9, Microsoft To Launch Windows 10 As New OS Build
- Nexus 7 Tips and Tricks