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Stocks slump as Cliff talks hit snag

Closing out the day… Stocks gave back some of their gains from earlier in the week as the ongoing negotiations toward a solution to the Fiscal Cliff appear to have slowed down.

Among the high-volume stocks today VMWAre (VMW), Focus Media Holding (FMCN) and J.C. Penney (JCP) posted gains while Bristol Myers Squibb (BMY), Target Corp. (TGT) and Baker Hughes (BHI)  all moved lower. The Chicago Board Options Exchange Volatility Index closed the day up 1.83 at 17.40 an 11.75% increase. The Put/Call Volume Ratio is at 0.63 while the Put/Call Open Interest ratio is at 0.94. [InvestorsKeyhole, various news and data sources]

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.