Stocks slip as U.S. heads into a third week of government shutdown and debt deadline approaches

10/14/2013

NEW YORK — The stock market is slipping after a breakdown in budget talks in Washington brought the nation closer to a potential  default on its debt.

There was also no immediate hope today for reopening the U.S. government, which was entering a third week of partial shutdown.

Negotiations to clear a path for a new budget agreement ended at an impasse over the weekend.

The Dow Jones industrial average was down 31 points, or 0.2 percent, at 15,205 in midday trading today.

The Standard & Poor’s 500 index was down three points, or 0.2 percent, at 1,700. The Nasdaq composite was down a fraction at 3,791.

Bond trading is closed today for Columbus Day.

Earnings season goes into high gear this week. Coca-Cola, Johnson & Johnson, and Citigroup report results Tuesday.