Posted: Monday, September 30th 2013 at 4:21pm
Stocks end lower as US nears shutdown; Dow loses 128 points
By The Associated Press
NEW YORK (AP) -- Stocks closed lower Monday as Wall Street braced for a government shutdown.
Investors pulled back from stocks as a budget fight in Congress threatened to push the federal government into a partial shutdown for the first time in 17 years. Lawmakers have until midnight Tuesday to reach a budget deal that would keep government in full operation
The Dow Jones industrial average fell 128 points to close at 15,129. The Standard & Poor's 500 index lost 10 points to 1,681. The Nasdaq fell 10 points to 3,771.
There was little evidence that the Democratic-controlled Senate and Republican-led House of Representatives were any closer to a budget agreement Monday afternoon, hours before the deadline.
The dispute is poised to continue into mid-October as legislators debate raising the nation's borrowing limit.
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