Stocks close lower as US government shutdown enters third day; Dow loses 136, ends at 14,996

Cindy Allen

NEW YORK , October 3, 2013 (Associated Press) – Stock market sinks as US government shutdown drags on for a third day

Stocks are closing lower across the board as a partial shutdown of the U.S. government enters a third day.

The Dow Jones industrial average fell 136 points, or 0.9 percent, to close at 14,996 Thursday, its biggest decline in two weeks.

The Standard & Poor's 500 index dropped 15 points, also 0.9 percent, to 1,678. The Nasdaq composite fell 40 points, or 1.1 percent, to 3,774.

The declines were broad. All 10 industry sectors in the S&P 500 fell, as did 29 of the 30 stocks in the Dow. Falling stocks far outnumbered rising ones on the New York Stock Exchange.

Defense contractors fell as investors worried that their revenue could be hit if the government shutdown drags on.

Volume was slightly heavier than usual at 3.2 billion shares.

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