Another sell off in Wall street

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FXstreet.com (San Francisco) - Major indexes in the United States have closed more than 1.2% down on Wednesday amid concerns about the so-called fiscal cliff and clues that show politicians remain without agreements intentions.

US President Barck Obama offers an agreement to extend tax cut to the middle class, "the 98% of the US population" as Obama said, but Republicans want a global agreement including those 2% who are earning more than 200k, 250k in couples, by year.

In addition, Illi Rehn, the European Commissioner for Economic and Monetary Affairs and the Euro, has commented that Spain don't need any addition step as the Iberian country is on track to match 2012 and 2013 deficit targets. Rehn also stated that Spain won't ask for bailout in the short term.

The Dow Jones collapsed 1.45% or 184.92 pts to close at 12,571.26 on Wednesday. The S&P 500 eases 1.39% or 19.04 pts to finish at 1,355.49. The Nasdaq Composite lost 37.08 pts or 1.29% to end the day at 2,846.81.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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