US Stocks decline retreated government shutdown persists - Economist

Impact of the government shutdown on US stocks

US Stocks Decline With Government Shutdown

US stocks closed lower on Thursday, October 9, as the US government shutdown continued into its ninth day.

The S&P 500 fell about 0.3%, and the Nasdaq Composite fell about 0.1%. The Dow Jones Industrial Average also fell 243 points, or 0.5%.

This comes after the S&P 500 posted its eighth straight day of gains on Wednesday. The Nasdaq also rose more than 1%, closing above 23,000 for the first time ever.

Meanwhile, the Dow Jones closed Wednesday flat, with blue-chip stocks lagging. However, Nvidia shares helped keep the index from slipping into losses, rising more than 2% after CEO Jensen Huang that computing demand has "experienced a significant increase" this year.

The market has clearly been on a steady rise since the April crashes, which still shows signs that some believe the stock market is in a recession, calling for some sort of pause at a time when the traditional buy-the-dip strategy is still firmly in place.

The market continues to rise gradually. However, there is some position swapping taking place, which may cause some volatility or impact during trading.

Investors were also monitoring the latest developments related to the current US government shutdown, which entered its ninth day on Thursday. The US Senate failed for the seventh time to pass proposals to fund the government, with little sign of progress between Republicans and Democrats in the negotiations.