Issue link: https://www.epageflip.net/i/185358
8B Daily News – Thursday, October 3, 2013 Furniture Depot 235 So. Main St. Red Bluff 527-1657 30th Anniversary Sale Additional 30% OFF SALE PRICES MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 SUN. 11:00-5:00 On Selected Flex Steel Sofas • Lane Recliners • Simmons Mattress Sets and more. Stocks fall as fears of protracted shutdown grow NEW YORK (AP) — Fear of a protracted U.S. government shutdown is making global investors increasingly nervous. U.S. and European stock markets fell Wednesday as investors and world leaders worried about the threat to the global economy. Europe's top central banker called the partial shutdown ''a risk if protracted.'' Boston's Federal Reserve Bank president cited the budget battle as a reason the Fed refused to pull back its economic stimulus last month, and President Barack Obama appeared on financial network CNBC to urge Congress to pass a budget and avoid derailing the nation's economic recovery. After shrugging off the first day of the shutdown Tuesday, Wall Street made it clear on the second day that it was more and more nervous that the budget fight could turn into some- Wall Street thing worse, a failure to raise the nation's borrowing limit. ''I'm not going out there and beating my chest and saying the world is coming to an end here,'' said Brad McMillan, the Chief Investment Officer at Commonwealth Financial, an investment adviser. ''But we face the possibility for significantly greater disruptions.'' The looming crisis has been growing for weeks. Republicans in the House of Representatives are insisting that Democrats negotiate over a new health care law as part of the budget talks. Senate Democrats, led by Majority Leader Harry Reid of Nevada, insist that Republicans pass a straightforward temporary funding bill with no strings attached. The political gridlock could prevent the U.S. Professional Personal Convenient • Premium Digital Hearing Aids for every budget Ask about our Open Fit Technology Discreet and Comfortable • FREE hearing evaluations Red Bluff Community Center 1500 So. Jackson Wed., Oct. 9, 2013 • Service/Repair, all makes and models • Batteries & accessories 10:00 am - 3:00 pm • Preferred provider for most insurance plans: Including PERS, Carpenters, Blue Cross/ Blue Shield, etc. Limited Appointments CALL • Low monthly payment plan available 1-800-488-9906 • Trial Period/ Satisfaction Guaranteed Performed for proper amplification selection only. government from borrowing more money to cover its bills and pay back creditors later this month. The financial market sees that as a disastrous move that could send the U.S. into recession. On Wednesday, the major indexes opened sharply lower, as U.S. lawmakers appearing unwilling to yield in their entrenched positions. After Obama summoned Congressional leaders to the White House later in the morning, the market started to recoup some of its losses, but the recovery faded throughout the afternoon. ''The markets are sending a loud message to Washington lawmakers to get their act together and resolve the budget crisis,'' said Peter Cardillo, chief market economist at Rockwell Global Capital. The Dow Jones industrial average ended the day down 58.56 points, or 0.4 percent, at 15,133.14 points. The Standard & Poor's 500 index fell 1.13 points, or 0.1 percent, to 1,693.87. The Nasdaq composite declined 2.96 points, or 0.1 percent, to 3,815.02. Six of 10 industry sectors in the S&P 500 fell. Declines were led by the makers of consumer staples and industrial companies. Defense companies, which rely on government contracts for a large part of their revenue, led declines for industrial companies. Raytheon fell 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 C & C PROPERTIES An Independently owned and operated Member of Coldwell Banker Residential Affiliates. FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 FORECLOSURES AND HOMES UNDER $200,000 2 BD 2 BD 2 BD 2 BD 2 BD 3 BD 3 BD 3 BD 3 BD 3 BD 2 BD 3 BD 3 BD 3 BD 4 BD 3 BD 1 BA 1 BA 1 BA 1 BA 1 BA 1 BA 2 BA 2 BA 2 BA 1 BA 1 BA 1 BA 2 BA 2 BA 3 BA 2 BA 821 Sq Ft 704 Sq Ft 903 Sq Ft 864 Sq Ft 720 Sq Ft 1,166 Sq Ft 1,092 Sq Ft 1,148 Sq Ft 1,312 Sq Ft 1,000 Sq Ft 1,356 Sq Ft 960 Sq Ft 1,224 Sq Ft 1,702 Sq Ft 1,543 Sq Ft 1,750 Sq Ft 0.17 AC 0.25 AC 0.1 AC 0 AC 0.85 AC 0.22 AC 0 AC 0.17 AC 0 AC 0.57 AC 0.37 AC 0.26 AC 0.381 AC 0.45 AC 0.9 AC 0.25 AC $55,000 $65,000 $75,000 $83,000 $109,900 $124,500 $128,000 $130,000 $130,000 $136,000 $149,000 $149,900 $169,000 $177,800 $179,500 $180,000 Prop Code 4349 Prop Code 24409 Prop Code 4549 Prop Code 4839 Prop Code 4339 Prop Code 4759 Prop Code 4519 Prop Code 4099 Prop Code 4719 Prop Code 4579 Prop Code 4109 Prop Code 4689 Prop Code 4119 Prop Code 4559 Prop Code 4139 Prop Code 4859 Let Our Knowledgeable And Professional Staff Assist You With All Your Real Estate Needs Today ! See All Tehama County Listings at www.redbluffcoldwellbanker.com TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK $1.73, or 2.2 percent, to $76.08. Lockheed Martin dropped $2.42, or 1.9 percent, to $125. Earlier, European Central Bank head Mario Draghi said that the partial U.S. government shutdown was a risk to economic recoveries in the U.S. and globally. Chief executives from the nation's biggest financial firms met with Obama for more than an hour Wednesday. Referring to the potential showdown over raising the government's borrowing limit, Lloyd Blankfein, CEO of Goldman Sachs, said: ''We shouldn't use threats of causing the U.S. to fail ... as a cudgel.'' Treasury Secretary Jacob Lew told Congress that unless lawmakers act in time, he will run out of money to pay the nation's bills by Oct. 17. Congress must periodically raise the limit on government borrowing to keep U.S. funds flowing, but the once-routine matter has now become a bargaining chip in battles over the federal budget deficit. The last time there was an impasse over the borrowing limit, in August 2011, it led to a downgrade of the United States' credit rating by Standard & Poor's and a plunge in the stock market. The government shutdown is ill-timed because the U.S. economic recovery is still on shaky foundations. U.S. businesses added 166,000 jobs last month, payroll company ADP said Wednesday, a level consistent with only a modest improvement in hiring. Economists polled by FactSet had forecast 180,000 jobs would be added. ''It's clear that the economy hasn't picked up steam like people were anticipating,'' said Kate Warne, an investment strategist at Edward Jones. ''Especially with the government shutdown, there's not a lot that is going to help it do so over the next couple of months.'' About 800,000 federal workers were staying home again Wednesday on the second day of the first partial shutdown of the U.S. government since the winter of 1995-96. SPAGHETTI DINNER Friday October 12, 2013 6pm to 7pm Social Hour (no host bar) 7pm Dinner Served $10 each Tickets available: 530-736-6441 Coming to Corning Soon P.O. Box 8538 Red Bluff