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12m ago

U.S. Government Shuts Down as Markets Slide and a Data Blackout Starts

With the Labor Department halting scheduled reports, investors warn the Federal Reserve will be navigating rate decisions without timely readings on jobs and inflation.

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A member of the public passes the US Department of Labor in Washington DC, on September 5.
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U.S. Capitol building on the first day of a partial government shutdown, at the U.S. Capitol, in Washington, D.C., U.S., October 1, 2025. REUTERS/Jonathan Ernst

Overview

  • U.S. stock futures and the dollar fell as trading opened, while gold set fresh records near $3,900 an ounce, Bitcoin advanced, and Treasury yields eased on safe‑haven buying.
  • The Bureau of Labor Statistics confirmed it will not release the September jobs report, weekly jobless claims are on hold, and the Oct. 15 inflation print could be affected if the closure persists.
  • Private data took center stage as ADP reported a 32,000 decline in September payrolls, boosting market odds of another Fed rate cut this month.
  • The Congressional Budget Office estimates roughly 750,000 federal employees are furloughed, costing about $400 million per day in lost compensation.
  • Regulators including the SEC and CFTC are operating with reduced staff, a slowdown that could delay IPOs and reviews of crypto ETFs, while analysts caution that longer shutdowns tend to increase market volatility even if past episodes were often short‑lived.