Uncertainty over debt ceiling hits markets

Pedestrians pass the bronze Charging Bull sculpture next to Wall Street in the Financial District on October 10, 2013 in New York City.

It's an odd day for financial markets, with the bond market closed for Columbus Day. But the stock market is open and with no clear path toward re-opening closed parts of the federal government or averting an impact with the federal debt ceiling, the mood is subdued on stock markets.

For a traffic report on the Washington gridlock, Marketplace Morning Report turns to Stan Collendar, a former House and Senate budget committee staffer who writes about the federal budget -- even when the global financial system may not be at stake.

About the author

David Brancaccio is the host of Marketplace Morning Report.


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