Stock market opens lower as debt talks continue

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Associated Press

Posted on October 15, 2013 at 8:01 AM

NEW YORK (AP) — Stocks are heading lower as lawmakers continue to work on a deal to avoid a U.S. default and reopen the government.

The Dow Jones industrial average was down 60 points, or 0.4 percent, at 15,241 after the first few minutes of trading Tuesday.

The Standard & Poor's 500 index was down six points, or 0.4 percent, at 1,704. The Nasdaq composite fell four points, or 0.1 percent, to 3,812.

The U.S. is expected to reach its borrowing limit on Thursday, jeopardizing its ability to pay its bills. Meanwhile a partial shutdown of the government is in its 15th day.

Citigroup fell after reporting earnings that missed Wall Street's expectations. Johnson & Johnson rose after reporting higher earnings than Wall Street was expecting.

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