Markets Are Crumbling All Around The World As Government Shutdown Gets Close
SEP. 30, 2013
Not surprisingly, markets are ugly today. Pretty much everywhere.
In Japan, the Nikkei ended down over 2%.
German stocks are down over 1%. Same with Spain.
Italian stocks are down nearly 2%.
US futures are down a bit less than 1%.
Over the weekend there were two major developments. One is it looks virtually certain that the US government is going to shut down. There appears to be no chance, right now, that the GOP-controlled Congress can pass a budget that doesn’t contain a defunding or delaying of Obamacare, which is obviously something the White House would never accept. So that’s not a positive.