A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK (AP) - Fear of a protracted U.S. government shutdown is making global investors increasingly nervous.
U.S. and European stock markets fell yesterday as investors and world leaders worried about the threat to the global economy.
Europe's top central banker calls the partial shutdown "a risk if protracted." Boston's Federal Reserve Bank president cited the budget battle as a reason the Fed refused to pull back its economic stimulus last month, and President Barack Obama appeared on financial network CNBC to urge Congress to pass a budget and avoid derailing the nation's economic recovery.
After shrugging off the first day of the shutdown Tuesday, Wall Street is now making it clear that it's more and more nervous that the budget fight could turn into something worse -- a failure to raise the nation's borrowing limit.
The Dow Jones industrial average ended yesterday down 58 points, or 0.4 percent, at 15,133. The S&P 500 index fell one point, or 0.1 percent, to 1,693. And the Nasdaq composite declined three points, or 0.1 percent, to 3,815.