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.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Original headline: Stocks slip as budget talks falter in Washington
Most Popular Stories
- Fantasy Football Gambling Industry Facing Increased Legal Scrutiny
- As States Legalize Pot, Will Traffic Deaths Rise?
- NATO Plans High-Readiness Force to Counter Russia
- Obama Promoting Economic Gains As Elections Near
- 'Guardians of the Galaxy' Conquers the North American Box Office with $16.3M
- GE Capital and Petters-Related Fund in Legal Battle
- California Conservation Conundrum: Water Use Varies Greatly Across State
- Combating Online Abuse Not Easy for Gamers
- Even With Surly 2014 Electorate, It's 'Still an Incumbent's World'
- Feds Want Nuclear Waste Train, but Nowhere to Go