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Stocks Down While Legislators Discusses the Fiscal Cliff

Hemera/Thinkstock(NEW YORK) -- On the last trading day of the week, stocks dropped, as investors lose hope that Washington will meet a self imposed deadline for avoiding the fiscal cliff.

The Dow lost 158 points in a five day losing streak, the longest since July. The S&P fell 15 points. The Nasdaq dropped 25 points.

House Speaker John Boehner met with President Obama and other members of Congress on Friday.  ABC News was told President Obama made no new offers during the discussions.

Copyright 2012 ABC News Radio

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