Summary Box: Stocks dip as federal shutdown looms

AP News
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Posted: Apr 08, 2011 5:13 PM
Summary Box: Stocks dip as federal shutdown looms

SHUTDOWN LOOMS: Republicans and Democrats were in the final day of talks to reach a budget agreement. Without a deal, the federal government is expected to stop services that aren't considered essential. That means most economic reports would be suspended. Sales of debt would continue.

RISING CRUDE: Crude oil jumped $2.49 to settle at $112.79 per barrel on the New York Mercantile Exchange. That's the highest price since Sept. 22, 2008.

THE INDEXES: The Dow Jones industrial average lost 29.44 points to close at 12,380.05. The S&P 500 index slipped 5.34 to 1,328.17. The Nasdaq lost 15.72 to 2,780.42.