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US stocks close flat under 'fiscal cliff' fears

Published on Nov 13, 2012 6:07 AM

NEW YORK (AFP) - US stocks closed flat on Monday as persistent fears about the looming "fiscal cliff" of spending cuts and tax hikes at year-end cast a cloud over encouraging China trade data.

In closing trade, the Dow Jones Industrial Average was down 2.00 points (0.02 per cent) at 12,817.39.

The broad-market S&P 500 edged up a bare 0.17 point (0.01 per cent) to 1,380.02, while the tech-rich Nasdaq Composite fell 0.62 (0.02 per cent) to 2,904.25.

"The growing US fiscal cliff concerns continue to hamstring the bulls, keeping stocks in check," Charles Schwab & Co analysts said.