Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.
The Dow Jones industrial average .DJI dropped 158.20 points, or 1.21 percent, to 12,938.11 at the close. The Standard & Poor's 500 Index .SPXlost 15.67 points, or 1.11 percent, to 1,402.43. The Nasdaq Composite Index .IXIC fell 25.59 points, or 0.86 percent, to end at 2,960.31.
The Dow Jones industrial average .DJI dropped 158.20 points, or 1.21 percent, to 12,938.11 at the close. The Standard & Poor's 500 Index .SPXlost 15.67 points, or 1.11 percent, to 1,402.43. The Nasdaq Composite Index .IXIC fell 25.59 points, or 0.86 percent, to end at 2,960.31.
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