U.S. stocks slid, paring a quarterly gain for the Standard & Poor’s 500 Index, as a stalemate over the federal budget increased the likelihood of a government shutdown. All 10 main industries in the S&P 500 dropped, with financial, telephone and energy shares falling the most. Microsoft Corp. retreated 1.1 percent to lead declines among the largest companies. The S&P 500 fell 0.5 percent to 1,683.74 at 11:01 a.m. in New York, after declining as much as 1 percent earlier in the day. The benchmark gauge has added 3.1 percent this month, extending its quarterly gain to 4.8 percent, as the Federal Reserve kept its $85 billion of monthly bond-buying. The Dow Jones Industrial Average lost 103.14 points, or 0.7 percent, to 15,155.10 today. Trading in S&P 500 stocks was 2.1 percent below the 30-day average at this time of day.
Posted on: Mon, 30 Sep 2013 15:43:01 +0000
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