OC­TO­BER – US gov­ern­ment shut­down amid po­lit­i­cal stand­off

The Star Malaysia - Star2 - - BIZ -

The po­lit­i­cal dead­lock in US Congress forced its fed­eral gov­ern­ment to shut down on Oct 1 for the first time in 17 years spark­ing fears that the global econ­omy might slip into re­ces­sion as in­vestors’ con­fi­dence be­gan to wane in the frag­ile US econ­omy. Re­ports es­ti­mated that 16-day-long shut­down had taken US$24bil out of the US econ­omy and will shave growth in the fourth quar­ter. But other than the US in­dexes, stock mar­kets else­where in­clud­ing Bursa Malaysia re­sponded mildly to the shut­down.

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