Fear of financial markets' reaction lends uncertainty to fiscal cliff talks as deadline nears

  • by: CHARLES BABINGTON , Associated Press
  • Updated: December 10, 2012 - 9:10 AM

WASHINGTON - Congress and the White House can significantly soften the initial impact of the "fiscal cliff" even if they fail to reach a compromise by Dec. 31. One thing they cannot control, however, is the financial markets' reaction, which possibly could be a panicky sell-off that triggers economic reversals worldwide.

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