US State Department Preps For Possible Government Shutdown
Portfolio Pulse from Piero Cingari
The U.S. State Department is preparing for a possible government shutdown due to disagreements over spending levels for fiscal year 2024. In the event of a shutdown, nonessential official travel and events would be scaled back, and some foreign aid programs may face funding shortages. The defense and aviation industry, including the iShares U.S. Aerospace & Defense ETF (NYSE:ITA), could be significantly impacted.
September 28, 2023 | 8:39 pm
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The iShares U.S. Aerospace & Defense ETF (NYSE:ITA) could be significantly impacted by a possible U.S. government shutdown.
A government shutdown could lead to delays in disbursing funds to entities like the Department of Defense, which could impact the liquidity of defense service contractors. This could negatively affect the performance of the iShares U.S. Aerospace & Defense ETF (NYSE:ITA), which has already experienced a nearly 9% decline this month.
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