Stocks around the world are Breaking Bad this morning.Weak global markets and the realization that the U.S. government may actually shutdown tonight are putting pressure on the U.S. indexes. The Dow Jones Industrial Average (^DJI), S&P500 (^GSPC) and the Nasdaq (^IXIC) opened down roughly 1%, but are slowly paring initial losses.

Global markets are also feeling the heat with the Nikkei 225 (^N225) closing down 2%, the Hang Seng (^HSI) down 1.5% and Europe's FTSE (^FTSE) is trading off nearly 1%. The FTSE hit its lowest levels of September with miners getting smacked after the HSBC Chinese Manufacturing PMI was revised down to 50.2. Anything below 50 marks economic contraction.

The selling marks a prevailing shift in attitude from last week and the apathy of the last couple weeks. The S&P closed last week at 1,692; just 2% off all time highs and up strongly for the month of September. "If they're going to shoot at me and that's all they've got then bring it on," says Scott Nations, founder and CIO of NationsShares. "But that's a really dangerous view to have when we're talking about Washington because it could really get ugly."

Related: The Upside to a Closed Government

For the most part traders are still banking on the looming shutdown in DC ending in a similar manner to the debt ceiling debacle of 2011 and the fiscal cliff lunacy of last year when the steep sell-offs proved to be buying opportunities. In 1995 and 1996 brief government closures had no meaningful impact on the markets according to a report sent out this morning by the Lindsey Group.