(AP) - The Dow Jones industrial average dropped for the fourth day in five, closing at its lowest level in six weeks, as investors waited for further developments from Washington where political gridlock is bringing the nation closer to a potentially calamitous default. The Standard & Poor's 500 index also dropped, falling the most in more than a month.
The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to close at 14,776.53.
The S&P 500 declined 20.67 points, or 1.2 percent, to 1,655.45.
The Nasdaq composite dropped 75.54 points, or 2 percent, to 3,694.83.
For the week:
The Dow is down 296.05 points, or 2 percent.
The S&P 500 is down 35.02 points, or 2.1 percent.
The Nasdaq is up 112.92 points, or 3 percent.
For the year so far:
The Dow is up 1,672.39 points, or 12.8 percent.
The S&P 500 is up 229.26 points, or 16.1 percent.
The Nasdaq is up 675.32 points, or 22.4 percent.