Stocks Slip as Shutdown Endures
NEW YORK (TheStreet) -- U.S. stocks slipped Wednesday as the fiscal drama in Washington dragged on and President Barack Obama met with business leaders including Boeing
Markets pared losses from earlier in the day, reflecting the sense that lawmakers will eventually resolve this latest budgetary crisis. The S&P 500 fell 0.07% to close at 1,693.86 after falling as much as 1.1%. The Dow Jones Industrial Average slumped 0.39% to 15,133.14 and the Nasdaq dropped 0.08% to 3,815.02.
Private payroll employment grew by a lower than expected 166,000 in September, according to payroll process Automatic Data Processing, versus the average economist expectation of 180,000. August's job gain was revised down to 159,000 from 176,000.
It's now expected the Bureau of Labor Statistics jobs report for September won't be released on Friday until the government resumes operations as usual.
It wasn't all downbeat news on Wednesday. Molycorp
The FTSE 100 in London decreased 0.34% and the DAX in Germany slid 0.69%. The Hong Kong Hang Seng finished up 0.55% while the Nikkei 225 in Japan closed down by 2.17%.
The benchmark 10-year Treasury was increasing 8/32, diluting the yield to 2.625%.
-- Written by Andrea Tse in New York
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