Wall Street falls on second day of US government shutdown
NEW YORK (Reuters) - United States stocks fell on Wednesday as a partial government shutdown in Washington entered a second day, adding to concerns over how soon a political compromise would be reached.
All ten S&P 500 sectors were lower, with material stocks the weakest, off 0.8 percent. Chemical maker OM Group fell 4.1 per cent to US$32.68 while Alcoa Inc lost 2.2 per cent to US$7.99. Alcoa was also pressured by a downgrade by Deutsche Bank.
The Dow Jones industrial average was down 105.77 points, or 0.70 per cent, at 15,085.93. The Standard & Poor's 500 Index was down 9.75 points, or 0.58 per cent, at 1,685.25. The Nasdaq Composite Index was down 15.31 points, or 0.40 per cent, at 3,802.67.
There were few signs that Congress was making progress in agreeing on a spending Bill that would reopen operations. The Democratic-led US Senate voted on Tuesday to kill Republicans' latest attempts to modify an emergency funding Bill, and sent a "clean" measure back to the House of Representatives that would extend funding for government agencies until Nov 15.