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Stocks slip as US heads into a third week of government shutdown and debt deadline approaches
Reported by: Associated Press
Reported: Monday, October 14, 2013 11:57 AM EDT
The stock market is slipping after a breakdown in budget talks in Washington brought the nation closer to a potentially disastrous default on its debt.
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 Monday.
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 Monday for Columbus Day.
Earnings season goes into high gear this week. Coca-Cola, Johnson & Johnson and Citigroup report results Tuesday.