U.S. stock markets closed lower Monday as investors worried about a budgetary impasse in Washington that threatened to partially shut down the federal government beginning Tuesday.
Hopes were fading that Congress can reach a last-minute deal and pass a stopgap budget measure to beat a midnight deadline.
President Barack Obama has warned that a freeze in non-essential federal spending could have catastrophic effects on the shaky economic recovery, and could cost thousands of jobs.
If the …
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