Stock Market Slump Tied to Government Shutdown as SPY, QQQ Decline
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) closed sharply lower as the U.S. government shutdown reached its 35th day, matching the record duration set during the TRUMP administration. Senate efforts to pass a funding bill failed for the 14th time, with Democrats insisting on Affordable Care Act subsidies as a condition for approval.
Former President Trump escalated tensions by calling for an end to the filibuster rule, which requires 60 votes to pass most Senate legislation. 'Terminate the filibuster now, end the ridiculous shutdown immediately,' he demanded on Truth Social, arguing this WOULD allow Republican policies to advance with a simple majority.
The political deadlock continues to weigh on risk assets, though cryptocurrency markets remain detached from traditional finance turmoil. No direct crypto mentions emerged in this equities-focused report, but digital assets often demonstrate inverse correlation to conventional market stress.
