Stocks Sink as Reid Said U.S. Likely Headed Over Fiscal Cliff

December 27, 2012 10:28 AM EST
Stocks weakened following a pointed comment from Senate Majority Leader Harry Reid (D) that it 'looks like the U.S. will go over the cliff' as the Dec. 31 deadline nears.

The Dow is down 75, the Nasdaq is down 18 and the S&P 500 is down 10.

Reid said House Speaker John Boehner (R) should call back House member today. Reid said there is still time for the House to act on a Senate-passed bill, although time is running out. He said the Senate-passed bill could pass the House.

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