Ontop of the news that investors pulled more money out of mutual funds invested in U.S. government securities last week than in any previous week this year, we have this:
(Reuters) - Stocks ended the worst week in a year as time runs out on Washington to reach agreement before the government loses its ability to borrow money.
The S&P 500 fell every day this week and was down 3.9 percent for the week as legislators failed to work out an agreement to raise the federal borrowing limit, which expires on Tuesday. Investors also worry about the likelihood of a U.S. credit downgrade.
The CBOE Market Volatility Index .VIX, a gauge of investor fear, jumped as much as 9 percent to its highest level since mid-March before paring its rise.
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SAN FRANCISCO (MarketWatch) -- U.S. stocks extended a multi-session losing streak Friday, sending the Dow average and the S&P 500 to their worst weeks in over a year, on fears U.S. lawmakers wouldn't resolve a debt crisis threatening an already cooling U.S. economy. The Dow Jones Industrial Average DJIA -0.79% ended down 96.87 points, or 0.8%, to 12,143.24. It lost 4.2% for the week and 2.2% for July. The S&P 500 SPX -0.65% fell 8.39 points, or 0.7%, to 1,292.28. It lost 3.9% for the week and 2.2% for the month. The Nasdaq Composite COMP -0.36% lost 9.87 points, or 0.4%, to 2,756.38. It dropped 3.6% for the week and 0.6% for the month.
Republicans -- sabotaging the economy for personal political gain.