Stocks plunge day after election

Money
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Wednesday, Nov. 7, 2012

NEW YORK (AP) -- Worries about the looming fiscal cliff and a deepening recession in Europe have sent stocks plunging today.

Investors are expressing concern that President Barack Obama will struggle to reach a budget compromise with a divided Congress in time to head off automatic tax increases and steep spending cuts set to go into effect at the end of the year.

The Dow was down about 300 points in afternoon trading.

(Copyright 2012, The Associated Press)



 
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