Monday, October 14, 2013

Stocks slip as budget talks falter in Washington

NEW YORK (AP) — The stock market is slipping after a breakdown in budget talks in Washington brought the nation closer to a potentially disastrous default on its debt.


There was also no immediate hope Monday for reopening the U.S. government, which was entering a third week of partial shutdown.


Negotiations to clear a path for a new budget agreement ended at an impasse over the weekend.


The Dow Jones industrial average was down 31 points, or 0.2 percent, at 15,205 in midday trading Monday.


The Standard & Poor's 500 index was down three points, or 0.2 percent, at 1,700. The Nasdaq composite was down a fraction at 3,791.


Bond trading is closed Monday for Columbus Day.


Earnings season goes into high gear this week. Coca-Cola, Johnson & Johnson and Citigroup report results Tuesday.


Source: http://news.yahoo.com/stocks-slip-budget-talks-falter-washington-155732067--finance.html
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