Stock market falls as shutdown looms
The Associated Press
Sep. 27, 2013
NEW YORK (AP) — The stock market is closing lower, capping its first losing week of September, as investors focus on the risk of a U.S. government shutdown.
The Dow Jones industrial average fell 70 points to 15,258 shortly after trading ended Friday. The Standard & Poor's 500 index slipped seven points to 1,691 and the Nasdaq composite fell six points to 3,781.
The Dow and S&P 500 have fallen in six of the past seven trading days after reaching all-time highs on Sept. 18.
Two financial deadlines loom for the U.S. government. Congress needs to pass a funding bill to keep the federal government operating after Oct. 1, when its new fiscal year starts. And the government is expected to reach its debt ceiling around Oct. 17.