Stocks Surge as Dollar Dips Amid US Government Shutdown Fears
Global stocks climbed as the dollar slipped, with investor focus on a potential U.S. government shutdown that could delay key economic data. Gold hit a new high, oil prices fell, and central bank actions remained uncertain. Markets prepared for possible Federal Reserve cuts in the approaching months.
Global stocks experienced gains on Monday as the dollar retreated. Investors braced for a potential U.S. government shutdown, which might delay crucial labor data, including the September payrolls report.
As the dollar dipped, gold prices surged to new highs, reflecting investor anxiety over the shutdown's ramifications. President Trump planned to meet top congressional leaders to discuss government funding, yet new tariffs on various items could complicate negotiations.
Analysts warned a prolonged government closure could affect Federal Reserve decisions and economic confidence. In contrast, some remained optimistic about stock performance in the upcoming quarter, while bond and commodity markets showed varied responses.
(With inputs from agencies.)
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