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Wednesday
Sep252013

Dow and S&P Drop for 5th Straight Day

iStockphoto/Thinkstock(NEW YORK) -- The losing streak on Wall Street has extended five days, with the Dow Jones Industrial Average dropping 61 points to finish the session at 15,273.26. The S&P 500 stock index ended the day in the red as well, and according to Marketwatch.com, it is now in the midst of its worst losing streak since the “fiscal cliff” drama of last December. The S&P closed at 1692.77, down 5 points.
 
Investors Wednesday are pointing directly to the dysfunction in Washington as one of the main reasons stocks are struggling in the past week.
 
Treasury Secretary Jack Lew Wednesday morning added a bit of fuel to the fear on Wall Street. He wrote a letter to Congress saying the debt ceiling will be reached no later than Oct. 17 and warned for the second day in a row that Wall Street should be taking this issue more seriously.

Copyright 2013 ABC News Radio