Nervousness among investors about the political climate in Washington is causing a slide on Wall Street. The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to 14,776.53. The S&P 500 index dropped 20.67 points, or 1.2 percent, to 1,655.45. The Nasdaq composite dropped 75.54 points, or 2 percent, to 3,694.83. There is little cause for optimism for a quick end to the partial government shutdown and the debt limit deadline is next week. Based on futures trading, Wall Street appears set for gains at this morning's opening.
- International stock markets drifted today amid continued jitters about U.S. debt limit and budget battles and an IMF warning on the global economy. Japanese stocks rose but other Asian markets were mixed. European markets were lower in early trading. Benchmark crude oil was lower but remains above $103 a barrel. The dollar gained against the euro and the yen.
- The Federal Reserve later today will release minutes from its September interest-rate meeting. And President Barack Obama is scheduled to present Fed vice chair Janet Yellen to succeed Ben Bernanke as head of the central bank in an announcement at the White House. Yellen, who is subject to Senate confirmation, would be the first woman to hold the position.
- Google is introducing a $279 laptop that runs its Internet-centric Chrome operating system, borrowing many of the high-end features found in models that cost $1,000 or more. Hewlett-Packard Co. makes the new HP Chromebook 11. Although its price is in line with most other Chrome OS notebooks, the new model sports many design features found in pricier devices, including the $1,299 Chromebook Pixel.
- Walmart Stores says it is splitting from its Indian business partner and suspending plans for its own retail stores in India because strict government regulations on sourcing from local small businesses make it impossible. The move by the world's largest retailer represents a blow to India's attempts to attract foreign investment in the huge but underdeveloped retail sector. Wal-Mart already runs a wholesaling joint venture in India and will continue that business.