(Reuters) - Stocks extended losses and hit session lows after the Senate passed the bill to cut spending and raise the debt ceiling.
The Dow Jones industrial average .DJI dropped 146.63 points, or 1.21 percent, to 11,985.86. The Standard & Poor's 500 Index .SPX lost 19.22 points, or 1.49 percent, to 1,267.72. The Nasdaq Composite Index .IXIC fell 37.27 points, or 1.36 percent, to 2,707.34.
(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)
