| The markets in the United States ended the week on a lower note, amid uncertainty surrounding the so-called “fiscal cliff.” U.S. House of Representatives Speaker John Boehner voiced frustration with the White House and indicated that he would not give ground to President Barack Obama on a new fiscal plan. If a new plan isn’t negotiated, steep tax hikes and spending cuts will be triggered at the end of the year, almost certainly pushing the U.S. back into a recession. International markets rallied early during the week, as the eurozone crisis appeared to be improving. But, concerns about the fiscal cliff ended the seven-day rally in most global markets, as a recession in the U.S. could lead to many problems around the world. The U.S. serves as a key export market and a source of capital for many countries around the world, ranging ... |
