Mar­ket falls sharply over House in­ac­tion

‘The more the clock ticks, the more the mar­ket is say­ing, “Just give us some­thing.” ’

Austin American-Statesman - - BUSINESS - Quincy Krosby, Mar­ket

mar­ket strate­gist at Pru­den­tial Fi­nan­cial ne­go­ti­ated with the White House on avoid­ing the sweep­ing tax in­creases and spend­ing cuts, a com­bi­na­tion known as the “fis­cal cliff.”

But Boehner scrapped a vote on the bill Thurs­day night af­ter it be­came clear that it did not have enough sup­port in the Repub­li­can-led House to se­cure pas­sage. He called on the White House and the Demo­cratic-led Se­nate to work some­thing out.

The mar­ket’s de­cline demon­strated that in­vestors’ nerves are raw as they await a res­o­lu­tion.

“Where we are to­day, the mar­ket would be sat­is­fied with the an­nounce­ment of a stop­gap mea­sure,” said Quincy Krosby, a mar­ket strate­gist at Pru­den­tial Fi­nan­cial. “The more the clock ticks, the

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