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Stocks see biggest sell-off of the year

7:19 AM, Nov 8, 2012   |    comments
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NEW YORK (AP) - Stocks are coming off their worst selloff of the year. The Dow Jones industrial average dropped 313 points Wednesday, ending the session at 12,933.

The S&P 500 fell 34 points to 1,395, while the Nasdaq composite index declined 75 points to 2,937.

American voters returned a divided government to power and left investors worrying about tax increases and spending cuts that could stall the economy unless Congress acts. In Europe, leaders warned that unemployment could remain high for years.

The losses were broad. Falling stocks overwhelmed rising ones five-to-one on the New York Stock Exchange. Volume was heavier than usual at 4.3 billion shares.








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