Stock market slips as U.S. shutdown continues

10/2/2013

FILE - In this Wednesday, Sept. 18, 2013, file photo, Trader Michael Smyth works on the floor of the New York Stock Exchange. Global stocks remained jittery Wednesday Oct. 2, 2013 on fears that a partial shutdown of the U.S. government could undermine the country's fragile economic recovery.(AP Photo/Richard Drew)

ASSOCIATED PRESS

NEW YORK — The stock market is closing slightly lower as investors weigh the possibility that political gridlock may keep the government partially closed for some time.

Investors were also discouraged by hiring last month that was weaker than many expected.

The Dow Jones industrial average fell 58 points, or 0.4 percent, to 15,133 today. It was down as much as 147 points earlier.

The Standard & Poor’s 500 index fell a point, or 0.1 percent, to 1,693. The Nasdaq composite fell three points, or 0.1 percent, to 3,815.

Defense contractors fell as investors worried that the government shutdown, which entered its second day today, wouldn’t be resolved quickly.

More stocks fell than rose on the New York Stock Exchange. Trading volume was average at 3.1 billion shares.