U.S. Government Shutdown Escalates Economic Uncertainty

U.S. markets experienced a turbulent day as the ongoing government shutdown delayed the release of crucial employment data, complicating the Federal Reserve's interest rate planning. The shutdown has led to the furlough of 750,000 federal workers, adding an economic burden of $400 million daily.

Without the Labor Department's comprehensive jobs report, set for Friday, investors are left in limbo, unable to fully gauge the U.S.'s economic health. This absence of data presents a challenge for the Federal Reserve as it contemplates potential rate cuts before year-end.

Despite the uncertainty, stock indices like the S&P 500 and Nasdaq made moderate gains, while gold reached record highs. International markets displayed varied performances, with European shares rising. Meanwhile, the dollar slipped, and oil prices fell amidst potential OPEC+ output hikes.

(With inputs from agencies.)