US stocks sink as 'cliff' battle looms

US stocks tumbled Wednesday as President Barack Obama challenged Republicans to accept tax increases for the wealthy in a deal to avert the year-end fiscal cliff.

After opening higher helped by Cisco Systems's strong earnings, share prices slid and then turned more sharply downward after Obama laid out his terms for a deal in his first post-re-election news conference.

At the close the Dow Jones Industrial Average was down 184.92 points (1.45 percent) at 12,571.26.

The broad-market S&P 500 lost 19.03 (1.38 percent) at 1,355.50, while the tech-rich Nasdaq Composite gave up 37.08 (1.29 percent) at 2,846.81.

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.128-0.001-0.78%
    N21.SI
    0.156+0.007+4.70%
    AFC.SI
    1.00-0.01-0.99%
    Y92.SI
    0.59+0.03+4.80%
    5TP.SI
    0.31+0.01+3.33%
    5OT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.52+0.06+14.29%
    BHU.SI
    0.625+0.055+9.65%
    BMT.SI
    0.315+0.025+8.62%
    M30.SI
    0.154+0.009+6.21%
    QS9.SI
    0.32+0.02+6.67%
    F03.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.011-0.115-91.27%
    QF6.SI
    0.255-0.005-1.92%
    I06.SI
    0.43-0.06-11.34%
    5DP.SI
    0.81-0.08-9.50%
    S44.SI
    0.70-0.07-9.09%
    AGS.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3521+0.0008+0.06%
    USDSGD=X
    1.5272+0.0002+0.01%
    EURSGD=X
    1.7815-0.0012-0.07%
    GBPSGD=X
    74.1880+0.079+0.11%
    SGDJPY=X
    5.7326-0.0029-0.05%
    SGDHKD=X
    2.9852+0.0094+0.32%
    SGDMYR=X
    9,803.0078-13.6963-0.14%
    SGDIDR=X
    4.9200+0.0066+0.13%
    SGDCNY=X
    1.02890.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,340.00-6.10-0.45%
    GCZ16.CMX
    18.83-0.09-0.46%
    SIU16.CMX
    103.89-1.81-1.72%
    ^XAU
    2.120.000.00%
    HGU16.CMX
    47.43-0.67-1.39%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.14+0.01
    ^FVX
    1.55+0.01
    ^TNX
    2.240.00
    ^TYX