Stocks slide as Washington stalemate drags on

October 7, 2013 - 3:35 PM
Wall Street Premarket

FILE - In this Wednesday, Oct. 2, 2013, file photo, trader Richard Scardino works on the floor of the New York Stock Exchange. Stock futures are falling sharply, Monday, Oct. 7, 2013, as the U.S. government heads into the second week of a partial shutdown with no signs of a budget agreement in sight. (AP Photo/Richard Drew, File)

NEW YORK (AP) — The stock market is closing at its lowest level in a month as the U.S. government enters a second week of being partially shut down.

Investors fear the budget stalemate could prevent Congress from raising the government's borrowing limit by next week's deadline, bringing a threat of a debt default by the U.S.

The Dow Jones industrial average fell 136 points, or 0.9 percent, to close at 14,936 Monday.

The Standard & Poor's 500 index fell 14 points, or 0.9 percent, to 1,676, the lowest in a month.

The Nasdaq composite fell 37 points, or 1 percent, to 3,770.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was much lighter than usual at 2.6 billion shares.