Market recap: Stocks finished sharply lower to end a two-day rally after Pres. Obama rejected a...

|By:, SA News Editor
Market recap: Stocks finished sharply lower to end a two-day rally after Pres. Obama rejected a Republican budget proposal, a sour note as the clock ticks on fiscal cliff talks. Today's slide was set up by soft housing data after much of the market's recent confidence was built on the foundation of improved housing. Economic bellwether FedEx finished higher after its FQ2 report but gave up much of its early gains.