Belfast Telegraph

Thursday 26 May 2016

Stocks fall as debt talks drag on

Published 16/10/2013

The Dow Jones industrial average fell 133 points to close at 15,168 points
The Dow Jones industrial average fell 133 points to close at 15,168 points

Stocks on Wall Street closed lower as hopes fade for a quick solution to the gridlock in Washington over how to avoid a US government default.

The Dow Jones industrial average fell 133 points, or 0.9%, to close at 15,168 points yesterday.

The Standard & Poor's 500 index fell 12 points, or 0.7%, to 1,698. The Nasdaq composite index fell 21 points, or 0.6%, to 3,794.

The US is expected to reach its borrowing limit tomorrow, jeopardising its ability to pay its bills. Meanwhile a partial shutdown of the federal government is in its 15th day.

The market was put under pressure yesterday as the on-again, off-again talks in Washington left investors wondering whether the US could avoid defaulting on its debt.

Volume was heavy at 3.4 billion shares.


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