US federal government enters shutdown, raising fears of global uncertainty
## Regulation: US Federal Government Shutdown
Regulation: US Federal Government Shutdown
The United States federal government has entered a shutdown as of Wed, following the Senate's inability to pass a short-term spending bill on Tue night.
This event marks the first government shutdown in approximately seven years. The previous shutdown lasted 35 days, from late 2018 to early 2019, and holds the record for the longest in US history.
During this period, hundreds of thousands of federal employees will either be placed on unpaid leave or required to work without pay.
The United States federal government has entered a shutdown as of Wed, following the Senate's inability to pass a short-term spending bill on Tue night.
The shutdown may result in a halt of economic data releases, affecting investment decisions globally. US stock market fluctuations are anticipated, as US equities account for about 70% of the global market capitalization. Progress on trade negotiations and international agreements could experience delays. The shutdown coincides with the expiration of the African Growth and Opportunity Act , impacting short-term negotiation prospects for this agreement.
Visa processing delays are expected if US embassies and consulates reduce services. Travelers should prepare for potential disruptions at airports due to reduced staffing, including air traffic controllers.
Based on reporting by Africanews.