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US teeters on the edge of fiscal cliff

THE Australian market was dragged down by stalled fiscal cliff negotiations in the United States but will still finish the year nearly 600 points up on this time last year.

Kristie Batten

Policymakers in the US have just one day to avert the fiscal cliff, which will see more than $US600 billion in tax increases and spending cuts automatically kick in on January 1. But Republicans and...

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