Stocks are falling again today as investors worry about tax hikes.
The S&P 500 is indicated lower about 0.40 percent, while European indexes are lower by half a percent to a full percentage point. Most Asian bourses declined overnight as well, despite better-than-expected industrial production in China.
Already battered by a series of weak profit forecasts tied to economic weakness in Europe, investors now face the risk of the “fiscal cliff” in the United States at the beginning of 2013. The feared crisis would automatically increase taxes and lower government spending, with the potential to send the economy into recession.
— Option Monster