Stocks end lower, capping first losing week of Sept. as government shutdown looms over market

9/27/2013

NEW YORK — 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 today. 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.