Wall Street briefly cuts losses on Obama briefing

By Staff Reporter | Nov 14, 2012 03:00 PM EST

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Stocks tumbled to their lowest levels since late July on Wednesday, driven by uncertainty over budget negotiations and an escalation of violence in the Middle East.

Based on the latest available data, the Dow Jones industrial average .DJI slid 184.92 points, or 1.45 percent, to end unofficially at 12,571.26. The Standard & Poor's 500 Index .SPX dropped 19.03 points, or 1.38 percent, to finish unofficially at 1,355.49. The Nasdaq Composite Index .IXIC fell 37.08 points, or 1.29 percent, to close unofficially at 2,846.81.

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