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10A Daily News – Wednesday, October 9, 2013 Stocks fall as investors wait on Washington Wall Street than a week. The stock market's moderate losses in the first days of the shutdown have accelerated this week as the U.S. has moved closer to an Oct. 17 deadline for lifting the LASSEN MEDICAL FLU SHOT CLINICS Red Bluff Location October 26th • 9am-1pm November 9th • 9am-1pm government's borrowing authority. Stocks opened flat, moved steadily lower and slumped in the final minutes of trading Tuesday. The loss added to a threeweek decline that has knocked the Standard & Poor's 500 index down 4 percent since it hit a record high on Sept. 18. Swings in the market will likely increase the closer the U.S. gets to the debt deadline without a resolution, said Randy Frederick, Managing Director of Active Trading and Derivatives at the Schwab Center for Financial Research. ''Virtually everyone expects that there will some sort of a resolution,'' Frederick said. ''But I wouldn't be surprised if it only came right before the last minute.'' The S&P 500 index dropped 20.67 points, or 1.2 percent, to 1,655.45. It was the biggest one-day drop for the index since Aug. 20. The declines were led by phone companies. House Republicans have insisted that a temporary funding bill include concessions on President Barack Obama's health care law. The president wants a bill to simply reopen the government, without strings attached. Obama said he had told House Speaker John Starting on Abbey's Hair Works NEW YORK (AP) — The stock market's slow bleed got a little worse Tuesday. The decline is the result of squabbling in Washington over raising the nation's debt limit and a government shutdown that has dragged on for more KWIK KUTS is now Family Hair Salon September 3rd 2450 Sister Mary Columba Drive Red Bluff, Ca 96080 527-0414 Lassenmedical.com Blue Sun Hair Studio!! And I'm moving to 245 Pine Street (Behind Gipson Realty) 527-3974 www.lassenmedial.com So come check out my new place!! And I look forward to your business!! 20 % off ANY RETAIL PRODUCT with any chemical service of $50 or more 200 Regular $ Haircut off Reg. $13.95 Not good with other offers Expires 9/30/13 With coupon 1064 South Main St., Red Bluff • 529-3540 Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of ''economic chaos.'' Speaking at a press briefing in Washington Tuesday, the president warned that the U.S. risked a ''very deep recession'' if the debt ceiling wasn't raised. The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to 14,776.53. The Nasdaq composite dropped 75.54 points, or 2 percent, to 3,694.83. Nervous investors also dumped short-term government debt as they worried that the standoff in Washington could jeopar- dize the nation's ability to pay its bills, including interest on its debt, as early as next week if Congress doesn't raise the borrowing limit. The yield on Treasury bills maturing in one month soared to 0.28 percent, hitting its highest level since the 2008 financial crisis. The yield was 0.15 percent the day before and close to zero at the beginning of October. The yield, which rises as the price of the notes fall, has surged as managers of money-market funds become more wary of holding short-term government debt that matures shortly after the debt deadline.