Investors breathed a sigh of relief and pushed stocks sharply higher Wednesday after lawmakers agreed late Tuesday on a deal to avert the ‘fiscal cliff’ of tax increases and spending cuts. At one point, the Dow Jones industrial average was up more than 270 points.
Speaker Boehner’s plan to avert ‘fiscal cliff’ fails
US House Speaker John Boehner was handed a stunning defeat late Thursday by members of his own party who refused to support his “Plan B” to avoid the year-end “fiscal cliff” that threatens to send the economy in to a recession.