U.S. Shutdown Hits Dollar, Nudges Global Markets (Reuters)
The U.S. government couldn‚Äôt come to a last-minute emergency funding agreement before the midnight deadline last night, meaning nearly a million federal employees will not be reporting to work today. Investment-wise, the biggest loser from the first government shutdown in 17 years was the U.S. dollar.¬† The buck dropped to an eight-month low against the euro and a year-and-a-half low against the Swiss franc. The Dow, S&P 500 and Nasdaq all finished lower in yesterday‚Äôs trading session, yet none of the indexes lost more than a percent.¬† Conversely, global markets were up, but they also lacked any dramatic movers.¬† Investor consensus seems to be that as long as the shutdown is temporary, they can weather this storm. Here‚Äôs hoping they‚Äôre right.
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