Stocks slide as Washington stalemate drags on
- Associated Press
- October 7, 2013 - 3:15 PM
NEW YORK — The stock market is closing at its lowest level in a month as the U.S. government enters a second week of being partially shut down.
Investors fear the budget stalemate could prevent Congress from raising the government's borrowing limit by next week's deadline, bringing a threat of a debt default by the U.S.
The Dow Jones industrial average fell 136 points, or 0.9 percent, to close at 14,936 Monday.
The Standard & Poor's 500 index fell 14 points, or 0.9 percent, to 1,676, the lowest in a month.
The Nasdaq composite fell 37 points, or 1 percent, to 3,770.
Two stocks fell for every one that rose on the New York Stock Exchange. Volume was much lighter than usual at 2.6 billion shares.
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