Stocks Fall As Government Shutdown Drags On

U.S. stocks fell on Monday as the partial U.S. government shutdown dragged on with no signs of a softening in the positions of politicians over the debt-ceiling limit or budget impasse.

Dow Jones industrial average was down 137.11 points, or 0.91 percent, at 14,935.47. The Standard & Poor’s 500 Index was down 15.33 points, or 0.91 percent, at 1,675.17. The Nasdaq Composite Index was down 32.59 points, or 0.86 percent, at 3,775.16.

The Dow Jones industrial average fell 100 points, or 0.7 percent, to 14,972 in early trading. The Standard & Poor’s 500 index dropped nine points, or 0.5 percent, to 1,681. The Nasdaq composite fell 16 points, or 0.4 percent, to 3,791.

The losses were broad. All ten sectors in the S&P 500 dropped, led by banks and other financial companies.

Until now, the stock market has mostly moved sideways since the shutdown began at the start of the month, indicating that investors still expect lawmakers to come up with a deal. The S&P 500 is flat since the start of the month.

In government bond trading, the yield on the 10-year Treasury note fell to 2.62 percent from 2.65 percent. The yield has fallen close to its lowest in two months as investors bought Treasuries on concern that U.S. economic growth will slow as the budget impasse drags on.

In commodities trading, the price of oil dropped $1.46, or 1.4 percent, to $102.36 a barrel as crude production in the Gulf of Mexico got back on track after a storm system passed through. The price of gold rose $8.60, or 0.7 percent, to $1,318.60 an ounce.

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