A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK -- The marathon political fight in the nation's capital over the federal budget and the health care law has left Wall Street very unsettled, and investors essentially retreated on Monday.
It seems certain, however, that a deal between Democrats and Republicans on a new short-term spending bill would ease some of the jitters on Wall Street. When that deal might be made is unknown.
Not only was Wall Street flummoxed by the divisive fight in Washington over the budget. But another battle also looms in about two weeks over legislation needed to increase the government's borrowing authority. The credit of the United States is at risk in that showdown.
The Dow Jones industrial average fell 128.57 points, or 0.8 percent, to close at 15,129.67. The Standard & Poor's 500 slid 10.20 points, or 0.6 percent, to 1,681.55 and the Nasdaq composite dropped 10.12 points, or 0.3 percent, to 3,771.48.