A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK (AP) - The political turmoil in the nation's capital isn't doing a lot for investor confidence on Wall Street. Witness the performance of the stock market where losses have accelerated as the U.S. has moved closer to an Oct. 17 deadline for lifting the government's borrowing authority.
Stocks opened flat, moved steadily lower and slumped in the final minutes of trading Tuesday. The loss added to a three-week decline that has knocked the Standard & Poor's 500 index down 4 percent since it hit a record high on Sept. 18.
The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to 14,776.53.