Published: Tuesday, 1 Jan 2013 | 6:10 PM ET
"What was set to be a massive rally could turn into a massive wipeout for stocks Wednesday if the Senate's Band-Aid bill to avoid the "fiscal cliff" fails in the House.
The Senate bill, approved in the early hours of the new year, stopped tax cuts from hitting about 99 percent of taxpayers and permanently stopped expansion of the alternative minimum tax, among other measures. But it failed to offer new spending cuts and it postponed a range of cuts, requiring further congressional debate. Republican House members criticized the bill and it was unclear it could pass the House.
A rejection could reverse big gains from Monday in stock futures and set up markets to take a pounding Wednesday."