Posted: Monday, October 14th 2013 at 12:13pm
Stocks slip as budget talks falter in Washington
By The Associated Press
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.
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