Dow finishes down 313 points in worst day this year; B. of A. slides 7%

NEW YORK (MarketWatch)
U.S. stocks dived on Wednesday on anxiety about the "fiscal cliff" and Europe's economic troubles in the wake of the re-election of President Barack Obama
With the election over, Wall Street turned to pondering the more than $600 billion in tax hikes and spending cuts scheduled to take effect in January should Congress fail to reach a deficit-cutting deal
"The fiscal cliff is now the base-case scenario," said Dan Greenhaus, chief global strategist at BTIG LLC
The Dow industrials fell 312.95 points, or 2.4%, to 12,932.73
The S&P 500 index  declined 33.86 points, or 2.4%, to 1,394.53
The Nasdaq Composite shed 74.64 points, or 2.5%, to 2,937.29