Stocks fall as budget talks falter in Washington

Stocks slide as US heads into a third week of government shutdown and debt deadline approaches

Associated Press
Debt ceiling talks push stocks higher
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In this Wednesday, Oct. 9, 2013 photo, trader Frank O'Connell, right, works, on the floor of the New York Stock Exchange. U.S. futures are down sharply, Monday, Oct. 14, 2013, as the nation heads into the third week of a partial government shutdown. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stocks are opening lower on Wall Street after a breakdown in budget talks brought the nation closer to a potentially disastrous default on its debt.

There was also no immediate hope for reopening the U.S. government, which was entering a third week of partial shutdown.

Negotiations to clear a path for a new budget agreement ended Sunday at an impasse.

The Dow Jones industrial average was down 66 points, or 0.4 percent, at 15,170 in early trading Monday.

The Standard & Poor's 500 index was down seven points, or 0.4 percent, at 1,695. The Nasdaq composite lost 14 points, or 0.4 percent, to 3,777.

Earnings season goes into high gear this week. Coca-Cola, Johnson & Johnson and Citigroup report results Tuesday.

Bond trading is closed Monday for Columbus Day.

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