Investors worried about whether a looming government shutdown could slow U.S. stocks' recent surge can take comfort in history: markets have tended to shrug off shutdowns despite their potentially nasty economic impact.
It did not do much to deter stocks, however, with the S&P 500 rising more than 9per cent during that period. More may be at stake this time, spurring lawmakers to act more decisively while also potentially boosting investor concerns as government funding for nearly all federal agencies expires on Dec. 11.Failure by the Democratic-controlled House and Republican-controlled Senate to pass a bill on how to allocate around US$1.4 trillion to be spent by Sept. 30, 2021, when the fiscal year ends, could have dire consequences.
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