It's all this fiscal cliff talk--traders (especially the ones with the mental acumen of the posters on this board) are easily confusing the fiscal cliff with CLF and selling because they have heard on their twitter feeds that we are going off (read lower stock prices) the fiscal cliff.
CLF is falling because they don't have the margins to be very profitable at current iron ore prices, and the outlook for iron ore is not that good. Iron ore is expected to go back to about $70-80 in the next couple of years. Look at a long term chart for iron ore -- the last few years are an anomaly. There's a lot of production coming on line and this will send iron ore prices back to historical norms.
Add the fact that CLF foolishly decided to pay an outsize dividend at the expense of a healthier balance sheet, and you have a stock that should fall even further. Nothing to do with the "fiscal cliff."