Epic US Markets Update

The S&P index is up 5.5 percent for the year, with nearly half of the gains coming after US legislators sidestepped temporarily the “fiscal cliff” of automatic tax increases and spending cuts.
The Dow Jones industrial average dropped 129.71 points, or 0.93 percent, to 13,880.08. The Standard & Poor’s 500 Index lost 17.46 points, or 1.15 percent, to 1,495.71. The Nasdaq Composite Index fell 47.93 points, or 1.51 percent, to 3,131.17.

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