Investing.com - U.S. stocks fell on Tuesday as a fiscal impasses continued to drag on with no end in sight amid growing concerns that defaults may ensue.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 1.09%, the S&P 500 index fell 1.23%, while the Nasdaq Composite index fell 2.00%.
Earlier Tuesday, President Barack Obama said he saw no serious proposals from Republicans needed to end the impasse that has closed the government, which sent stocks falling.
Markets were also growing increasingly worried that the deadlock will affect negotiations to raise the U.S. debt ceiling, which the U.S. Treasury Department has estimated will be reached by Oct. 17, after which the risk of default rises.
The White House insists Republicans open the government before addressing fiscal issues, while many Republicans want the president's healthcare reform law scrapped or delayed before doing as such, with a stalemate resulting.
Leading Dow Jones Industrial Average performers included Wal-Mart Stores, up 1.43%, Procter & Gamble, up 0.91%, and Coca-Cola, up 0.62%.
The Dow Jones Industrial Average's worst performers included Verizon, down 2.60%, AT&T, down 2.59%, and Visa, down 1.97%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.52%, France's CAC 40 fell 0.77%, while Germany's DAX 30 fell 0.42%. Meanwhile, in the U.K. the FTSE 100 finished down 0.11%.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 1.09%, the S&P 500 index fell 1.23%, while the Nasdaq Composite index fell 2.00%.
Earlier Tuesday, President Barack Obama said he saw no serious proposals from Republicans needed to end the impasse that has closed the government, which sent stocks falling.
Markets were also growing increasingly worried that the deadlock will affect negotiations to raise the U.S. debt ceiling, which the U.S. Treasury Department has estimated will be reached by Oct. 17, after which the risk of default rises.
The White House insists Republicans open the government before addressing fiscal issues, while many Republicans want the president's healthcare reform law scrapped or delayed before doing as such, with a stalemate resulting.
Leading Dow Jones Industrial Average performers included Wal-Mart Stores, up 1.43%, Procter & Gamble, up 0.91%, and Coca-Cola, up 0.62%.
The Dow Jones Industrial Average's worst performers included Verizon, down 2.60%, AT&T, down 2.59%, and Visa, down 1.97%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.52%, France's CAC 40 fell 0.77%, while Germany's DAX 30 fell 0.42%. Meanwhile, in the U.K. the FTSE 100 finished down 0.11%.