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
    0.230.000.00%
    N21.SI
    0.106+0.002+1.92%
    5WA.SI
    0.40-0.03-5.88%
    E5H.SI
    0.153+0.002+1.32%
    5IF.SI
    0.114-0.004-3.39%
    AAJ.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.34+0.07+25.93%
    PA3.SI
    0.525+0.075+16.67%
    BLR.SI
    0.195+0.026+15.38%
    BRS.SI
    1.23+0.15+14.42%
    AYN.SI
    0.38+0.04+13.43%
    5CF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.31-0.16-34.74%
    BCD.SI
    0.111-0.042-27.45%
    UV1.SI
    0.55-0.08-12.70%
    AWG.SI
    0.475-0.045-8.65%
    567.SI
    1.045-0.085-7.52%
    C76.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4204+0.0027+0.19%
    USDSGD=X
    1.4972-0.0073-0.49%
    EURSGD=X
    1.7722+0.0058+0.33%
    GBPSGD=X
    80.0050+0.241+0.30%
    SGDJPY=X
    5.4626-0.0088-0.16%
    SGDHKD=X
    3.1385-0.0051-0.16%
    SGDMYR=X
    9,401.8975-48.3535-0.51%
    SGDIDR=X
    4.8482-0.0005-0.01%
    SGDCNY=X
    1.0905+0.001+0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,236.80-2.30-0.19%
    GCJ17.CMX
    17.97-0.07-0.36%
    SIH17.CMX
    91.73-0.83-0.89%
    ^XAU
    2.74+0.03+1.22%
    HGH17.CMX
    54.38+0.60+1.12%
    CLJ17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.92+0.01
    ^FVX
    2.430.00
    ^TNX
    3.04+0.01
    ^TYX