Summary Stocks tumbled Monday after Washington lawmakers failed to bridge differences over federal budget.
NEW YORK CITY (AFP) - US stocks tumbled in opening trade Monday as a shutdown of the government loomed after Washington lawmakers failed to bridge their differences over the federal budget.
Five minutes into trade, the Dow Jones Industrial Average sank 153.94 (1.01 percent) to 15,104.30.
The broad-based S&P 500 retreated 14.73 (0.87 percent) at 1,677.02, while the tech-rich Nasdaq Composite Index gave up 40.15 (1.06 percent) at 3,741.44.
Analysts said a government shutdown at midnight Monday would not likely have a huge impact on the US economy.
But the paralysis has raised concerns the two sides will not reach agreement on the more critical issue of raising the debt ceiling in mid-October.
