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.
In Other News: Verizon Releases Statement on FCC’s “1930’s Era Regulations” in Morse Code | Michael Schaus