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Mon, Oct 14, 2019 | Last Updated 4:20 pm IST

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US stocks closed lower as United States Government shutdown

US stocks closed lower as United States Government shutdown
US stocks closed lower as United States Government shutdown
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New York sources reported that US stocks closed lower as the United States government shutdown dragged on and key economic data came out weak. Meanwhile the Dow Jones Industrial Average decreased 5.97 points, or 0.02%, to 23,995.95 on Friday. Accordingly the S&P 500 fell 0.38 points, or 0.0%, to 2,596.26. The Nasdaq Composite Index was down 14.59 points, or 0.21%, to 6,971.48.

 


Furthermore the US government partial shutdown entered its 21st day on Friday, tying the record for the longest lapse in federal funding. Earlier on Thursday, US President Donald Trump tweeted he would cancel his trip to the annual World Economic Forum at Davos later this month due to the shutdown. Presently investors were worried that prolonged government shutdown could hurt the economy and financial markets.

 US stocks closed lower as United States Government shutdown

Moreover on the economic front, US consumer price index for all urban consumers fell 0.1 percent in December, the first drop and weakest reading since March. Perhaps over the past 12 months, the all items index increased 1.9% before seasonal adjustment and the decrease was caused by a sharp decline of gasoline price but underlying inflation pressures remained firm as rental housing and health care costs rose steadily.


US stocks closed lower as United States Government shutdown
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