'Cliff' pessimism delivers US stocks another loss

  • Umno MP admits to Facebook photos of Karpal in death
    Umno MP admits to Facebook photos of Karpal in death

    KUALA LUMPUR, April 19 — Under-fire Umno lawmaker Datuk Nawawi Ahmad admitted today to uploading photos of slain DAP leader, Karpal Singh on the Internet using his smartphone. The Langkawi MP... …

  • We love you, Tiger of Jelutong, grandchildren bid Karpal farewell
    We love you, Tiger of Jelutong, grandchildren bid Karpal farewell

    The late Bukit Gelugor MP Karpal Singh was given a moving tribute and farewell by his grandchildren tonight, who vowed to take up the mantle of Tiger of Jelutong. The 11 grandchildren, aged between 1½ years and 11, showed the media a poster which they had made together. "Singh is King. We love you, Tiger of Jelutong. We will miss you. Jangan... …

  • ‘I’ll be the next Tiger of Jelutong’, says Karpal’s eldest grandson
    ‘I’ll be the next Tiger of Jelutong’, says Karpal’s eldest grandson

    GEORGE TOWN, April 19 — In a sign that Karpal Singh’s legacy will not be forgotten, his eldest grandson pledged today to become as fearless and dedicated a lawyer his late grandfather once was.... …

  • More seats will check gerrymandering, says opposition
    More seats will check gerrymandering, says opposition

    While Pakatan Rakyat supports the creation of more parliamentary seats in the next redelineation exercise as a means to check malapportionment, academics and non-governmental organisations have warned that it will not necessarily improve the quality of elected representatives. PAS election director Dr Mohd Hatta Ramli said the opposition pact... …

  • Learner drivers can take test in auto cars from June – Bernama

    The Road Transport Department (RTD) will allow learner drivers to be tested in automatic transmission vehicles starting in June. Deputy director-general of RTD Datuk Yusoff Ayob said there had been delays in implementing the move because of technical problems involving the printing of the driving education curriculum. "The printing of the... …

  • In Karpal, slain Beng Hock’s kin saw a beacon of hope
    In Karpal, slain Beng Hock’s kin saw a beacon of hope

    GEORGE TOWN, April 19 — The house at Number 144A Jalan Utama has seen a ceaseless stream of visitors since morning. They came from all walks of life, mostly in groups, sometimes alone to offer... …

US stocks sank for a fifth straight day Friday, showing more doubts that politicians will be able to agree on a deal to fix the fiscal cliff with only days before the year-end deadline.

Shares were cautiously lower for most of the day after President Barack Obama returned from his vacation early to try to broker a deal with Republican and Democratic congressional leaders at the White House.

But without any positive signs late in the day and the weekend looming, traders gave up and sold off at a stronger pace in the last half hour.

The Dow Jones Industrial Average finished off 158.20 points (1.21 percent) at 12,938.11.

The broad-market S&P 500 lost 15.67 (1.10 percent) to 1,402.43, while the tech-rich Nasdaq Composite shed 25.60 points (0.86 percent) to 2,960.31.

"In the end, fiscal-cliff concerns dominated. No deal meant more worry, and we sold off," said Ryan Detrick of Schaeffer's Investment Research.

All 30 Dow blue chips were in the red, led by Hewlett-Packard (-2.6 percent), which was pushed lower after the SEC said it was looking into its subsidiary Autonomy.

In November, HP accused Autonomy of fraudulent accounting that was uncovered only after its $10 billion purchase of the British software firm in 2011.

Also on the Dow, Exxon lost 2.0 percent and Chevron 1.9 percent.

A rare gainer for the day was embattled bookseller Barnes & Noble, which, although reporting that its Nook e-reader had disappointing Christmas sales, got a 4.3 percent boost on the announcement that British publisher Pearson would take a five percent stake in its Nook unit for $89.5 million.

Herbalife, under attack for weeks from short-selling hedge funds, bounced back with a 3.9 percent gain.

Facebook, which opened more than 2.5 percent lower on a report by audience tracker AppData.com that some 3.5 million people had stopped using its photo-sharing app Instagram daily over the past week, regained ground to finish with a loss of just 0.5 percent.

Facebook acquired Instagram earlier this year. The original price was pegged at $1 billion but the final value was less because of a decline in the social network's share price.

Bond prices rose. The 10-year US Treasury yield slipped to 1.71 from 1.72 percent late Thursday, while the 30-year edged lower to 2.88 percent from 2.89 percent. Bond prices and yields move inversely.

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  • Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user The Malaysian Insider
    Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user

    A Barisan Nasional MP whose Facebook posting poking fun at the death of Karpal Singh shocked Malaysians has again insulted the late DAP leader, this time comparing him to a hostile figure in Islamic history who fought against Prophet Muhammad. Facebook user Shamsul Kamal Ariffin Mohd Nasir, 42, told The Malaysian Insider that Langkawi MP,... …

  • Karpal’s car crashed into lorry, not the other way around, says Perak police The Malaysian Insider
    Karpal’s car crashed into lorry, not the other way around, says Perak police

    Initial investigations have revealed that Karpal Singh’s Toyota Alphard crashed into a five-ton lorry in the accident yesterday that claimed his life and that of his assistant, Perak police said today. State police chief Datuk Acryl Sani Abdullah Sani also dismissed rumours and speculation that the accident was caused by the lorry crashing... …

  • Told to ‘shut up’ on Twitter, Zul Noordin lashes back at Khairy The Malay Mail Online
    Told to ‘shut up’ on Twitter, Zul Noordin lashes back at Khairy

    KUALA LUMPUR, April 18 — A feud is breaking out between former Perkasa vice president Datuk Zulkifli Noordin and Umno Youth chief Khairy Jamaluddin on Twitter. Told unequivocally by the minister... …