U.S. stocks turn lower on ‘cliff’ uncertainty

U.S. stocks turn lower on ‘cliff’ uncertainty
NEW YORK (MarketWatch) — U.S. stocks turned lower Wednesday as Wall Street’s cheer over an upbeat quarterly report from Cisco Systems Inc. dissipated on concerns about efforts to reach a deficit-cutting deal.

“Every investor now is a cliff watcher. The focus here is not on earnings, the Federal Reserve or oil prices, it’s all about the fiscal cliff,” said Alan Skrainka, chief investment officer at Cornerstone Wealth Management in Des Peres, Mo.
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