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Speaker Johnson Warns of Record-Breaking U.S. Government Shutdown

Speaker of the House Mike Johnson, R-La., praises President Donald Trump's peacemaking efforts leading to a ceasefire pausing two years of war in the Gaza Strip, at the Capitol in Washington, Monday, Oct. 13, 2025.  House Speaker Mike Johnson has cautioned that the ongoing U.S. government shutdown could become the longest in the nation’s history, as the political standoff between Republicans and Democrats shows no signs of easing. Now in its 13th day, the shutdown has already shuttered federal offices, closed museums, and disrupted air travel across the country. Thousands of federal workers face layoffs, while unions have begun legal challenges against the administration’s actions. Johnson, speaking at the Capitol, said he would not negotiate with Democrats until they suspend their healthcare-related demands and agree to reopen the government. “We’re barreling toward one of the longest shutdowns in American history,” he warned. Vice President JD Vance described the cuts as “pain...
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Wall Street’s Momentum Cools After Its Latest Record-Setting Week

 

Wall Street, fresh from its recent record highs, has taken a step back as the new trading week begins. The S&P 500 dipped by 15.99 points, representing a 0.3% decline, settling at 5,218.19 in a subdued day of trading. Meanwhile, the Dow Jones Industrial Average experienced a 162.26-point drop (equivalent to 0.4%) to reach 39,313.64. The Nasdaq composite also retreated, losing 44.35 points (or 0.3%) to close at 16,384.47.

This cooling momentum comes after a remarkable run for Wall Street, which had been scaling new heights. Investors are closely monitoring the Federal Reserve for any signals regarding potential interest rate cuts. The recent surge in the U.S. dollar against the Japanese yen has also raised concerns, prompting speculation about market intervention. The dollar’s ascent to nearly 152 yen—a significant jump from slightly above 130 yen a year ago—has drawn attention. Meanwhile, the euro stands at $1.0818, up from $1.0810.

In Asia, shares exhibited mixed performance. Japan’s Nikkei 225 declined by 1.2%, reaching 40,414.12, as investors booked profits following the index’s recent record-breaking highs. Hong Kong’s Hang Seng edged up by 0.2% to 16,535.89, while China’s Shanghai Composite gained 0.3%, closing at 3,056.52. The Chinese yuan (renminbi) weakened to a four-month low of 7.2282 against the U.S. dollar. Australia’s S&P/ASX 200 bucked the trend, rising by 0.5% to 7,811.90. South Korea’s Kospi experienced a slight decline, losing 0.2% to settle at 2,743.04.

As the week unfolds, investors remain watchful for further cues from the Federal Reserve and potential market developments. Wall Street’s recent retreat serves as a reminder that even record-setting rallies can encounter moments of moderation.

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