Today's decline should be due to investors' pessimistic expectations regarding the U.S. government shutdown.

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Phyrex
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4 hours ago

Today's decline is likely due to investors' pessimistic expectations regarding the U.S. government shutdown. Voting will begin at 00:30 Beijing time on November 5, and the result was the Senate's 14th rejection of the Republican-led temporary funding bill, with no set time for a re-vote. Currently, Kalshi predicts that the U.S. government shutdown will last for 44 days, which means there are still 9 days to go.

The immediate impact is that food stamp relief will only continue after Trump announces the reopening of the government, which may increase social unrest. Data from the Bureau of Labor Statistics will not be released until the government shutdown ends. The Department of Transportation warns that if the shutdown continues and controllers remain in short supply, some airspace may be forced to close or traffic may be restricted next week.

The Nasdaq fell nearly 2%, the S&P dropped nearly 1.2%, and Bitcoin is close to falling below $100,000, with losses potentially widening due to the ongoing shutdown.

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