Quick Update on Stock Markets as US Government’s Partial Shutdown Continues
Arslan Butt • 1 min read
Global stock markets slipped on Monday after a series of fundamentals are placing a bearish pressure on the market.
- The S&P 500 ( SPX ) trades bearish at 2,574.12 down -0.80%.
- Nasdaq 100 fell to trade at 6,601.40, down by -0.30%
- DAX slipped to 10,831.55, falling nearly -0.51%
The contraction in Chinese exports led to intensifying cracks in the world’s second-biggest economy. This increased concerns of a sharper slowdown in global economic growth and corporate profits.
Most importantly, don’t forget about the US government partial shutdown. It’s now been the 24th day since the government closed partially and about 800,000 federal employees were forced to go on unpaid leave. Fewer salaries mean less spending and that’s bad for corporate sales.