A TORNADO WATCH has been issued for Austin, Brazos, Burleson, Grimes, Lee, Leon, Milam, Madison, Montgomery, Houston, Trinity, Walker, Waller, Washington, San Jacinto and Robertson Counties until 9:00am Monday morning. A line of strong to severe thunderstorms is moving through the Brazos Valley this morning. Heavy rain, frequent lightning, and winds above 50 mph are our main concerns. However, an isolated tornado cannot be ruled out.
NEW YORK (AP) - Stocks are closing lower as hopes fade for a quick solution to the gridlock in Washington over how to avoid a U.S. government default.
The Dow Jones industrial average fell 133 points, or 0.9 percent, to close at 15,168 points Tuesday.
The Standard & Poor's 500 index fell 12 points, or 0.7 percent, to 1,698. The Nasdaq composite index fell 21 points, or 0.6 percent, to 3,794.
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 federal government is in its 15th day.
The market was whipsawed Tuesday as the on-again, off-again talks in Washington left investors wondering whether the U.S. could avoid defaulting on its debt.
Volume was heavy at 3.4 billion shares.
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