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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100