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Stocks, Dollar Fall Due to Shutdown

Stock markets worldwide lost ground on Thursday while the dollar dropped to an eight-month low as worries grew the budget standoff in Washington would merge with a looming more complex fight over the U.S. borrowing limit.

Major U.S. stock indexes earlier fell more than 1 percent as a partial U.S. government shutdown entered a third day and after President Barack Obama reiterated that he would not meet Republican demands in exchange for operating the government.

Analysts expect investor patience to run out if the shutdown lasts more than about a week as the debt ceiling deadline approaches. U.S. Treasury Secretary Jack Lew has said the United States will exhaust its $16.7 trillion borrowing authority no later than October 17.

Source: Reuters. Read full article. (link)

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  • JWatts||

    And stocks were up sharply yesterday. Was that due to the shutdown, also?

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