National News

Sep 27, 2013 5:37 PM by Associated Press

Stock market falls as shutdown looms

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.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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