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U.S. Stocks Suffer Huge Losses

New York, October 4 (RHC)-- Stocks fell broadly Thursday, as investors weighed the consequences of an extended government shutdown after a budget deal remained elusive in Washington.

The Dow Jones Industrial Average fell 137 points -- its ninth decline in 11 sessions and closing below 15000 for the first time in a month. All but four Dow components were lower. The S&P 500 index gave up 15 points and the Nasdaq Composite index shed 41 points.

Reports from Wall Street say that many investors remained confident that Washington would resolve the more pressing issue of raising the nation's debt ceiling, despite the stalemate over funding the government.

The Barack Obama administration underscored the economic consequences of a long-term fight over spending and the borrowing limit.

Edited by Juan Leandro
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