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(Continued from page 34)
• 7. COURT DATE IN NYC HOTEL MAID'S SUIT VS. STRAUSS-KAHN
• The former IMF chief won't attend a New York City hearing at 2 p.m. to discuss a settlement in a sex assault case with a hotel housekeeper.
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• 8. FAMILY MASSACRE AT INDIAN RESERVATION
• California police say a man killed his mother, 8-year-old daughter and two uncles before dying in a shootout with police.
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• 9. MYSTERY OF MANDELA'S ILLNESS
• The 94-year-old former South African president is hospitalized for undisclosed reasons.
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• 10. AN APOLOGY BEFORE 'CHRISTMAS IN WASHINGTON' CONCERT
• Before appearing, 'Gangnam Style' rapper PSY said he was sorry for rants against U.S. troops.
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AP News in Brief
Fear of financial markets' reaction lends uncertainty to fiscal cliff talks as deadline nears
• WASHINGTON (AP) -- Congress and the White House can significantly soften the initial impact of the "fiscal cliff" even if they fail to reach a compromise by Dec. 31. One thing they cannot control, however, is the financial markets' reaction, which possibly could be a panicky sell-off that triggers economic reversals worldwide.
• The stock market's unpredictability is perhaps the biggest wild card in the political showdown over the fiscal cliff.
• President Barack Obama's re-election gives him a strong negotiating hand, as Republicans are increasingly acknowledging. And some Democrats are willing to let the Dec. 31 deadline pass, because a rash of broad-based tax hikes would pressure Republicans to give more ground in renewed deficit-reduction negotiations.
• A chief fear for Obama's supporters, however, is that Wall Street would be so disgusted or dismayed that stocks would plummet before lawmakers could prove their newfound willingness to mitigate the fiscal cliff's harshest measures, including deep, across-the-board spending cuts that Defense Secretary Leon Panetta says (Continued on page 36)
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