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U.S. Stocks Pare Quarterly Gain as Shutdown Approaches

U.S. stocks slid, paring a quarterly gain for the Standard & Poor’s 500 Index, as a stalemate over the federal budget sent the government toward a potential shutdown at midnight.

All 10 main industries in the S&P 500 retreated. Procter & Gamble Co. and Coca-Cola Co. slipped more than 1.5 percent to pace declines among consumer-staples companies. Devon Energy Corp. and Tesoro Corp. lost at least 1.6 percent as energy shares slid 0.8 percent amid a drop in oil prices. J.C. Penney Co. fell 2.7 percent, extending last week’s losses.