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Gold hits record, Wall St futures drop as US goes into shutdown

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The prospect of federal services shutting down overshadowed optimism that the Federal Reserve will cut interest rates again, with the crisis likely to delay key data the bank relies on for policy decisions.

HONG KONG: Gold hit a record high and Wall Street futures fell Wednesday as the US government went into shutdown after lawmakers in Washington failed to reach a deal to keep it funded, though most Asia markets held gains.

Democrats and Republicans have been unable to bridge their differences on funding the government beyond Tuesday — the end of the fiscal year — with both sides blaming each other.

Senate Republicans tried to rubber-stamp a House-passed temporary funding patch — but could not get the handful of Democratic votes required to send it to Donald Trump to sign off.

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🟡Reuters