Stocks down as shutdown continues
The standoff between congressional Democrats and Republicans to pass an emergency funding bill, which has led to a third day of a partial U.S. government shutdown, continued with little sign of progress toward a solution.
Boehner’s spokesman said the speaker had always said that the United States will not default on its debt.
The CBOE Volatility Index VIX, often used to measure investor anxiety, jumped as high as 18.71, its highest level since late June. The VIX rose 160 percent to 42.96 in the third quarter of 2011 as the S&P 500 index fell 14 percent, the biggest retreat since 2008.
Earlier in the day, President Barack Obama challenged Republicans to “stop this farce” by allowing a straight vote on a spending bill.
Stocks briefly extended losses in late afternoon after shots were fired outside the U.S. Capitol but quickly recovered. The S&P 500 index closed below its 50-day moving average, often viewed as a technical level to sell shares.
Tesla Motors Co shares fell 4.2 percent to $173.31 after an automotive blog published images of a Model S electric sedan in flames after an accident.
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