Wednesday, October 2, 2013

Markets Turn Lower as Stalemate Endures

About 800,000 federal workers were staying home again on Wednesday, the second day of the first partial shutdown of the federal government since the winter of 1995-96. The Standard & Poor's 500 index closed down 1.13 points, or 0.07 percent, to 1,693.87. The longer the budget fight drags on, the more investors will start to fret about the looming showdown about raising the government's borrowing limit, said Brad McMillan, the chief investment officer at Commonwealth Financial, an investment adviser. In government bond trading, the yield on the 10-year Treasury note fell to 2.62 percent, from 2.65 percent on Tuesday.

Source: http://www.nytimes.com/2013/10/03/business/economy/daily-stock-market-activity.html?partner=rss&emc=rss

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