Spreadex Market Update

Stocks continue their decline



Stocks continued their decline heading into the afternoon as US lawmakers remained in deadlock over extending the debt limit to avoid default. The US government shutdown continued with no signs of a resolution after house speaking John Boehner vowed on Sunday not to raise the debt ceiling without a “serious conversation”.

John Boehner highlighted that the House cannot pass an increase to the US debt ceiling without other provisions put in place. However, President Barack Obama has hit back saying it won’t negotiate with Republicans.

Investors dumped risky assets in search of safe-havens, pushing up the price of gold. Crude retreated as US entered the seventh day of shutdown, creating uncertainty about the demand for oil

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