Wall Street falls after no move to resolve US shutdown

By IVCPOST Staff Reporter

Oct 07, 2013 10:13 PM EDT

On Monday, US stocks fell which extended two weeks of trading losses. This was after a lack of progress was seen in ending the budget issues that resulted to the US partial shutdown, reported Reuters. Investors were kept nervous as the debt ceiling standoff had not yet been resolved.

The S&P 500 had ended near its lows of the session in a volatile day. It had dropped for its 10th time in the past 13 sessions. The CBOE Volatility VIX which measures investor anxiety had jumped by 16% to its highest level from June. The VIX had increased for three weeks up 48% over that period.

Many government offices had been closed from the start of the month. The partial shutdown had resulted to millions of federal employees furloughed, reported Reuters. Investors had been looking ahead to an upcoming debate over US budget issues. If left unresolved, this could lead to the first ever default on US debt.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics