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ETFs Retreat Amid Threat of Lost Economic Data as Shutdown Vote Looms
ETFs Retreat Amid Threat of Lost Economic Data as Shutdown Vote Looms
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BTCCSquare news:
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) opened higher but lost momentum, with QQQ closing negative as political uncertainty weighed on markets. WHITE House warnings about unreleased October inflation and jobs data—critical for Federal Reserve policy decisions—added pressure ahead of a House vote to end the government shutdown.
Market participants now face a data vacuum ahead of December's FOMC meeting, with potential long-term damage to economic indicators. The impending shutdown resolution, while likely to pass, arrives too late to salvage key datasets that typically guide risk asset valuations—including cryptocurrencies that often MOVE inversely to traditional market volatility.
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