September 27, 2013- Stocks Close Down on US Fiscal Concerns

After showing a notable move to the downside at the open, stocks remains mostly negative in mid-day trading on Friday. Selling pressure has waned from earlier in the session but buying interest also remains largely subdued. The major averages have climbed well off their worst levels of the day but currently remain stuck in the red. The Dow is down 69.87 points or 0.5 percent at 15,258.43, the Nasdaq is down 3.09 points or 0.1 percent at 3,784.33 and the S&P 500 is down 6.84 points or 0.4 percent at 1,691.83. Worries about a possible government shutdown are weighing on the markets, as lawmakers continue to wrangle over legislation to keep the government running past next Monday. The Senate is scheduled to vote on a temporary spending bill, stripping out language from a House-passed bill that defunds Obamacare. The legislation is expected to pass the Senate, and then the House Republican leadership will have to decide whether to bring the Senate bill up for a vote or risk a government shutdown.