INQUIRER.net: Washington stalemate sinks US stocks; Nasdaq down 2%

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Washington stalemate sinks US stocks; Nasdaq down 2% Oct 8th 2013, 23:52 NEW YORK CITY—US stocks sank and short-term bond yields jumped Tuesday as the stalemate in Washington over passing a budget and raising the debt ceiling took a deeper toll on financial markets.   Investors sold off a wide range of high-flying tech stocks especially as President Barack Obama toughened his line on negotiating with Republicans, saying he would not bow to extortion.   At the closing bell, the Dow Jones Industrial Average fell 158.75 (1.06 percent) to 14,777.49.   The broad-based S&P 500 sank 20.61 (1.23 percent) to 1,655.51, while the tech-rich Nasdaq Composite Index plummeted 75.54 (2.00 percent) to 3,694.83.   Investors... Keep on reading: Washington stalemate sinks US stocks; Nasdaq down 2% Media files: Wall-Street-10813.jpg (image/jpeg)

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