Wall Street Indices Erase Gains As Investors Wary Of US Shutdown

Currently, the whole world is talking about the US Shutdown. Experts have been discussing the consequences of the US Shutdown and how much the global market will be affected by this shutdown. Meanwhile, Wall Street indices erased their gain amid the threat of inflation as investors are worrying about the US Shutdown. According to the reports, the US Shutdown will happen on Sunday, October 1, 2023. Kindly note that on Friday, September 29, 2023, the S&P 500 index ended up with a fall of 0.27 percent, and the Dow Jones index closed with a 0.47 percent fall. But a tech giant ended up on a positive note despite the investors being weary of the US Shutdown on Sunday, October 1, 2023. If you are also scrambling to the web regarding the same, follow this article till the end.

Wall Street

Nasdaq index ended up with gain

According to the reports, the tech giant Nasdaq closed with a rise of 0.14 percent. Somehow, the Nasdaq managed to remain in positive territory while the global equities of MSCI ended lower following a choppy session last week as traders seemed weary of the US government shutdown. However, they adjusted the index for the quarter’s end. Notably, MSCI’s stocks across the world witnessed a fall of 0.04 percent on that day.

Reportedly, the MSCI’s gauge of stocks fell 4.3 percent for the month of September. Kindly note that it was the biggest monthly decline for MSCI stocks in a year. It declined by 6.6 percent if we talk about quarterly. For the first quarter in a year, MSCI fell by 6.6 percent. CEM Group claimed that investors were betting on an 85.8 percent probability that the Fed would keep rates steady. Talking about the currencies, the US Dollar registered the biggest gain for a quarter in a year as it gained for the 11th week in a row. However, the Yen, the currency of Japan, remained under scrutiny for the potential intervention of the government.

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Japan’s Yen Slips Against US Dollar

Reportedly, Japan’s Yen fell by 0.07 percent in front of the US Dollar. It closed at 149.43 per dollar. The Dollar index which estimates the greenback against a basket of currencies rose by 0.038 percent with the Euro rose by 0.09 percent at $1.0568. Investors are worrying about the US Government shutdown. On Friday afternoon, the headline Republicans in the House of Representatives rejected the bill to temporarily boost the government, proposed by their leader. Therefore, the federal agencies will begin shutdown on Sunday, October 1, 2023.

Amzad Khan
Amzad Khan

Hey there, guys. I am Amzad Khan. I enjoy writing on topics related to my interests in gaming and technology. My work has attracted a dedicated fan base thanks to the fresh and unexpected angle I bring to each piece.