MARKETS TANK AFTER REID WARNING — Dow Off 135

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Photo: Google Finance

The market sell-off is getting uglier.The S&P 500 is off over 1 per cent.

Earlier this morning, Senate Majority Leader Harry Reid spoke on the Senate floor, and he sounded pretty pessimistic.

“It looks like” we’re going over the fiscal cliff, he said.

This came after a disappointing consumer confidence report and a mixed new home sales report.

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