Market Turbulence Deepens As Last-Minute Bid To Avoid Shutdown Fails: S&P 500 Faces Worst Month In 2023
Portfolio Pulse from Piero Cingari
The stock market experienced turbulence as a last-minute bid to avoid a government shutdown failed. The SPDR S&P 500 ETF Trust (NYSE:SPY) declined by 0.2%, extending monthly drops to 5%, marking September as the most challenging month for the S&P 500 in 2023. The failure to pass legislation aimed at averting a government shutdown has led to uncertainty and chaos within the GOP, causing a delay in negotiations with President Joe Biden and the Democratic Senate.
September 29, 2023 | 8:03 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) declined by 0.2%, extending monthly drops to 5%, due to the failure to pass legislation aimed at averting a government shutdown. This has led to uncertainty and chaos within the GOP, causing a delay in negotiations with President Joe Biden and the Democratic Senate.
The failure to pass legislation aimed at averting a government shutdown has caused uncertainty in the market, leading to a decline in the SPDR S&P 500 ETF Trust (NYSE:SPY). The ongoing chaos within the GOP and the delay in negotiations with President Joe Biden and the Democratic Senate could further impact the ETF in the short term.
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