(NEW YORK) — U.S. markets fell flat on Veterans Day.
Last week the Dow saw its biggest sell-off of the year, following the re-election of President Obama. This week the index edged lower as investor worries grow about the impact of the so-called “fiscal cliff” — automatic federal tax increases and spending cuts that will take effect in January unless Congress acts.
In light of holiday trading, the Dow closed off a fraction of a point to end at 12,815.16. The Nasdaq closed down a point, finishing at 2,904.26. The S&P closed at 1,380, up a fraction of a point.
The bond market was closed for Veterans Day.
Stocks in Europe were mixed after Greek lawmakers approved a 2013 austerity budget and the head of Euro-zone finance ministers said lenders have prepared a “positive” report on Greece. The Stoxx Europe 600 closed down 0.3 percent.
Copyright 2012 ABC News Radio
David Goldman, CNN
Nate Eaton, EastIdahoNews.com
Cristina Alesci Seth Fiegerman and Charles Riley, CNN
Selena Larson, CNN