In pre-market trading, shares of Apple, Alphabet, Meta Platforms, Amazon, and NVIDIA Corp. fell as much as 0.4 percent.
The US government shut down a large portion of its operations on Wednesday after legislators were unable to come to an agreement on financing, which caused Wall Street futures to fall.
A number of government functions have been suspended as a result of the standoff, and agencies have warned that the September jobs report may not be released on time. According to a Reuters article, furloughs may affect some 750,000 government workers, with an estimated daily economic impact of $400 million USD.
In pre-market trading, shares of Apple, Alphabet, Meta Platforms, Amazon, and NVIDIA Corp. fell as much as 0.4 percent. Wall Street had a poor start as futures associated with the S&P 500 were down 0.77 percent at 1:30 pm IST, the Nasdaq 100 futures were down 0.93 percent, and the Dow Jones Industrial Average futures were down 0.6 percent.
Germany’s DAX dropped 0.4 percent, France’s CAC 40 slid 0.17 percent, and the pan-European STOXX 600 increased 0.16 percent. In Asia, China’s Shanghai Composite gained 0.52%, Hong Kong’s Hang Seng climbed 0.87 percent, Japan’s Nikkei 225 fell 0.85%, and South Korea’s Kospi increased by 1%.
After eight straight sessions of losses, benchmark stock indexes at home rebounded with the help of purchases at banking, financial services, auto, and pharmaceutical counters. The Reserve Bank of India’s decision to leave policy rates constant with room for future rate reductions also improved investor confidence.
The Nifty rose to 24,787.10, up 176 points, or 0.72 percent, while the Sensex increased 594.23 points, or 0.74 percent, to 80,861.84.