Overview

• The shutdown began at 12:01 a.m. ET on Oct. 1 after Congress failed to pass funding before the fiscal-year deadline.
• Statistical agencies including the BLS, BEA and Census have suspended data collection and releases, delaying reports such as September nonfarm payrolls and potentially CPI.
• Markets shifted to safety with gold hitting a record near $3,875, the dollar softer, and U.S. equity futures lower as cryptocurrencies swung sharply.
• Roughly 750,000–800,000 federal employees face furloughs with an estimated $400 million in daily lost compensation, and reports suggest agencies were told to prepare for deeper personnel actions.
• Fed funds futures now price roughly 94%–95% odds of an October rate cut as investors lean on private surveys, and analysts warn a regulatory slowdown at the SEC, FDA and EPA could delay IPOs, drug approvals and permits.