POLITICS
10/07/2013 10:34 am ET Updated Oct 07, 2013

Government Shutdown Standoff Continues In Congress (LATEST UPDATES)

The federal government shutdown continued Monday with few signs of progress in Congress, with the U.S. inching towards default ahead of the October 17 debt ceiling deadline.

The government shutdown entered its second week with no end in sight and ominous signs that the United States was closer to the first default in the nation's history as Speaker John Boehner ruled out any measure to boost borrowing authority without concessions from President Barack Obama.

The uncompromising talk rattled financial markets early Monday with the Dow dropping more than 100 points in early trading.

Just 10 days before the threat of default would be imminent, animosity among congressional leaders marked the stalemate and resolution seemed elusive.

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Below, the latest updates on the shutdown:

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