A sell-off in stocks accelerated Thursday, with the major indexes declining about 1% as Washington remains paralyzed and the nation approaches the deadline for raising the U.S. debt ceiling.
The Dow briefly slid below 15,000, a psychologically important level, for the first time in almost a month before recovering from the worst of its losses.
Meetings at the White House between congressional leaders and President Obama have failed to produce a breakthrough, and the government has entered its third day of a shutdown. That's making investors jittery.
More troubling for Wall Street is the risk that the political stalemate could prevent the debt ceiling from being raised, meaning the government may not be able to pay all its bills later this month.
Tesla's stock continued to fall Thursday (-3.75%) after a fiery crash near Seattle, Wash., sparked concerns about the safety of the car maker's Model S sedan.
Shares of Angie's List (ANGI) tumbled 14.86% on concerns that the customer review site is hitting a rough patch. The company's chief technology officer left abruptly last week and now the website has drastically reduced its membership prices. Other Internet stocks that have been red hot lately, such as Priceline (PCLN), Yahoo (YHOO, Fortune 500), Netflix (NFLX) and Facebook (FB), pulled back Thursday too.
United Technologies (UTX, Fortune 500) shares were down after the defense contractor announced that it would likely furlough 2,000 workers starting next week, due to the government shutdown.
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