S&P 500 Bulls Brace for More Pain From Shutdown
A trader works on the floor of the New York Stock Exchange (NYSE) in New York.
Photographer: Michael Nagle/BloombergThe already-faltering US stock market is set for deeper losses should the government shutdown last another week or longer, the latest Markets Pulse survey showed.
The S&P 500 Index has slumped more than 2% this week, trimming this year’s gain to about 13%, in part on concern that the impasse in Washington is darkening the economic outlook. The gauge set its last all-time closing high on Oct. 28, propelled by AI-fueled optimism around big tech, but that sector has started to slide.