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Stocks fall as House Speaker Boehner postpones debt limit vote; durable goods orders slip
NEW YORK (AP) ' Stocks are falling as lawmakers remain at odds over how to avoid a debt default. A decline in orders for manufactured goods orders is also pushing stocks lower.
House Speaker John Boehner had planned to hold a vote on his debt-limit plan Wednesday but that was postponed after congressional budget officials said it would have cut spending less than advertised. The White House had also threatened to veto Boehner's plan. The stalemate has put financial markets on edge.
The Dow Jones industrial average is down 98 points, or 0.8 percent, to 12,404 at midday. The Dow is headed for its fourth day of losses. The Standard & Poor's 500 is down 15, or 1.1 percent, at 1,322. The Nasdaq composite is down 44, or 1.6 percent, at 2,796.