Stocks Tanking

The Dow Jones Industrial Average is off 130 points (0.9%) and the S&P 500 is 0.8% lower to begin the week as the crisis in Washington weighs on sentiment.

Meanwhile, gold is spiking. The shiny yellow metal has been rising all morning and is now up 1.2% on the day and is now trading around $US1325 an ounce.

Meanwhile, oil is dow 1.6%, trading just north of $US102 a barrel after heavy selling at the 9 AM NYMEX open.

There are no economic data releases this morning in the United States. August consumer credit data will be released at 3 PM.

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