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News Summary: Stocks slip as 'cliff' talks wear on

The Associated Press

NO DEAL YET: President Barack Obama and Republicans in Congress sniped at each other as the Jan. 1 deadline to avoid sweeping tax increases and government spending cuts drew closer.

BROAD LOSSES: Stocks fell across the board. Telecommunications companies fell the most, 1.2 percent as group, and technology stocks fell the least, 0.4 percent as a group.

OUT OF THE CAR BUSINESS: General Motors stock surged more than 6 percent after the government announced plans to sell its ownership stake in the company. The government got GM stock as part of a 2009 bailout.