NEW YORK (AP) - The stock market took an immediate nosedive this morning with the federal government apparently on a course for a partial shutdown at midnight.
The Dow plunged 150 points at the open and remains more than 100 points down on the day, while the broader indexes are also down sharply.
It has become all but certain that the federal government will partially shut down for the first time in 17 years Tuesday because Congress and the White House have failed to reach an agreement to fund federal spending.
Even if that hurdle is cleared, the Congressional dispute is poised to continue into the middle of October as legislators debate raising the nation's borrowing limit. Analysts say the concern is the Washington has become so polarized that there's a greater chance of the debt ceiling battle resulting in a default.
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