Stocks ended lower Wednesday as a year-end deadline nears with no deal in hand how to cut the U.S. government's budget deficit. The White House threatened to veto House Speaker John Boehner's backup plan for averting automatic tax increases and government spending cuts that are set to take effect Jan. 1 if no agreement is reached by then.
The Dow Jones industrial average fell 98.99 points, or 0.7 percent, to end at 13,251.97.
The Standard & Poor's 500 index lost 10.98 points, or 0.8 percent, to 1,435.81.
The Nasdaq composite index fell 10.17 points, or 0.3 percent, to end at 3,044.36.
For the week:
The Dow is up 116.96 points, or 0.9 percent.
The S&P500 is up 22.23 points, or 1.6 percent.
The Nasdaq is up 73.03 points, or 2.5 percent.
For the year:
The Dow is up 1,034.41 points, or 8.5 percent.
The S&P 500 is up 178.21 points, or 14.2 percent.
The Nasdaq is up 439.21 points, or 16.9 percent.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for August 28th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 27th, 2014 | John Ransom
In Other News: Rare Sighting of the Elusive President Obama in His Natural Habitat, the Golf Course | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 25th, 2014 | John Ransom
In Other News: Law "Enforcer" Eric Holder Understands People's Mistrust of Law Enforcement | Michael Schaus