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NEW YORK, Oct. 7 (UPI) -- U.S. markets floundered Monday as the government shutdown spilled over into its second business week with no discernible end in sight. As each day passes, it becomes more and more apparent that the debt ceiling issue will become more entangled with the budget impasse.
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This may bode well for the issues at hand, as they present more options for negotiations. But this could also present that much more debate that solidifies into gridlock.
Stocks slid Monday. The Dow Jones industrial average gave up 136.34 points or 0.9 percent to close at 14,936.24. The Standard & Poor's 500 dropped 14.34 points or 0.85 percent, to 1,676.12. The Nasdaq lost 37.38 points or 0.98 percent to 3,770.38.
On the New York Stock Exchange, 667 issues advanced while 2,421 declined on volume of 2.6 billion shares.
The 10-year U.S. treasury note rose 5/32 to yield 2.631 percent.
In Japan, the Nikkei 225 index gave up 170.99 points, 1.22 percent, to 13,853.32.
In Britain, the London FTSE dropped 16.60 points or 0.26 percent to 6,437.28.
On currency markets, the euro fell to $1.3579 and the dollar fell to 96.70 yen.
Crude oil shed 75 cents or 0.72 percent to $103.09 on the New York Mercantile Exchange. On the Comex division, gold added $13.20 to $1,323.10 per troy ounce while silver gained 61.8 cents to $22.37.
On the Chicago Board of Trade, December corn added 5 3/4 cents to reach $4.49 a bushel, November soybeans added 3/4 cent to $12.95 3/4 and December wheat gained 7 1/4 cents to $6.94 1/4.
