"The first thing to note about markets of all stripes today is that some are down and some are up. As of the time of this writing, futures of the three major stock market indexes in the United States are all down-but not by a staggering amount. S&P futures are currently down by about 0.58%, Dow futures are down by about 0.52%, and Nasdaq futures are down by about 0.67%."
"Other popular cryptocurrencies are also up as of the time of this writing, including Dogecoin, up 5.2%, and Solana, up 4.81%. Why are crypto prices rising? Many major cryptocurrencies began spiking around the time that the U.S. government officially entered its partial shutdown. Investors are likely seeking safe-haven assets-investments that are seen as safer bets than stocks or bonds when there is a wave of economic uncertainty-uncertainty that is often created by a government shutdown."
Congress failed to pass a new funding bill, and the existing funding lapsed at 12:01 a.m., causing a partial federal government shutdown. U.S. stock futures showed modest declines, with S&P futures down about 0.58%, Dow futures down about 0.52%, and Nasdaq futures down about 0.67%. Nearly every major cryptocurrency rose by multiple percentage points in the immediate hours after the shutdown, including notable gains for Dogecoin and Solana. Many cryptocurrencies began spiking around the shutdown time as investors sought safe-haven assets seen as relatively safer than stocks or bonds during waves of economic uncertainty.
Read at Fast Company
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