Stocks fall as lawmakers hedge debt positions
New York stocks end lower amid signals of a weakening economy and looming U.S. debt default risk. The Dow slides 199 points to 12,303, the S&P 500 drops 27, and the Nasdaq loses 75 as fear grows of higher interest rates and slower growth. Volume runs high with 4.6 billion shares traded.
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Debt talks hinge on House vote amid veto threat
House Republicans push a bill to cut spending in exchange for debt limit relief as White House vows to veto. Markets fall on fears of gridlock while Reid and Obama back competing plans and signals of possible compromise emerge.
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