Wall Street to Open Lower on Fears of Government Shutdown
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iStock/Thinkstock(NEW YORK) — Wall Street is watching closely to see what happens in Washington, D.C., on Monday.
Not only are investors worried about the threatened government shutdown on Tuesday, but also what could happen in less than three weeks if the government defaults on its debt.
Ahead of Monday’s opening bell, U.S. stock futures are down across the board. Overseas, markets have also reacted negatively, with European and Asian stocks trading lower.
The last time the U.S. government shut down was in 1996. During that time, stocks went down nearly 4 percent but rose weeks later.
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