Futures slide as markets look past shutdown to debt ceiling


S&P 500 (SPY) futures -0.7%, with DJIA (DIA) -0.5%, and Nasdaq 100 (QQQ) -0.5% as markets today decide the partial federal government shutdown is a bad thing. Beyond the shutdown is the debt ceiling debate which has a far greater capacity to roil financial stability. Were this not resolved by October 17 (the Treasury Sec.'s date), checks would stop going out as payment on U.S. government debt.

Europe's off moderately, and Japan dumped 2.2% overnight as the government again pushes through a sales-tax hike just as the economy starts to gain some momentum.

The 10-year Treasury yield is down 2 bps at 2.63%.

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Comments (3)
  • Financehulligan
    , contributor
    Comments (1056) | Send Message
     
    I´ve heard that Everything in US is shutdown, is that true? Maybee I should cancel my flight next week. Will you open up to the next summer?
    2 Oct 2013, 07:22 AM Reply Like
  • Regarded Solutions
    , contributor
    Comments (20339) | Send Message
     
    yep everything is shut including the pay toilets. That should save us about 12 bucks.
    2 Oct 2013, 07:44 AM Reply Like
  • JABITO423
    , contributor
    Comments (2) | Send Message
     
    Even with the shut down each day we run a deficit.
    2 Oct 2013, 08:04 AM Reply Like
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