The Clinton Herald, Clinton, Iowa

October 9, 2013

Stocks fall as investors wait on Washington

The Clinton Herald

---- — NEW YORK (AP) — Stocks ground lower on Tuesday as the continuing budget gridlock in Washington brought the U.S. closer to the risk of an unprecedented default on its debt.

After opening relatively flat, the stock market moved steadily lower in late morning trading. Nervous investors dumped short-term government debt as they worried that the standoff in Washington could jeopardize the nation’s ability to pay its bills, including interest on its debt, as early as next week if Congress doesn’t raise the nation’s borrowing limit.

House Republicans have insisted that a temporary funding bill contain concessions on President Barack Obama’s health care law.