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Gold Hits Record And Bitcoin Rises Amid Government Shutdown Uncertainty
Bitcoin rose 3% as gold hit a record high, while all major stock indexes declined amid market uncertainty from the U.S. government funding lapse.
- Wednesday, the U.S. government shut down shortly after midnight, halting federal operations as market participants focused on Washington to gauge the standoff's length.
- Disagreements over spending and policy riders stalled a funding bill, as Democrats led by Sen. Chuck Schumer, D‑N.Y., and Rep. Hakeem Jeffries, D‑N.Y., pushed to extend enhanced Obamacare tax credits.
- Safe-Haven flows pushed both gold and bitcoin higher amid the funding lapse as gold spiked 1.1% to $3,913.70 per ounce and bitcoin rose more than 2% to $116.4K.
- Stocks fell, with the S&P 500 and Nasdaq down about 0.5% at the open, and the shutdown creates a data blackout that could leave the Federal Reserve uncertain.
- A prolonged standoff would hamper growth as roughly 750,000 federal workers face furloughs, and a quarter-long lapse could cut Q4 real GDP growth by 1.2–2.4 percentage points.
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The US company's shares and the dollar stood on Wednesday, under an unstable transaction, while the gold reached a record level, at the bottom of the U.S. federal government's shutdown fund.
·Bucharest, Romania
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Total News Sources69
Leaning Left9Leaning Right4Center40Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 17%
C 75%
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