The US stock market is expected to experience significant losses due to concerns about a government shutdown.
This political uncertainty is not only affecting market sentiment but also raising concerns about the broader economic landscape.
Analysts warn that the upcoming year will present substantial challenges for the global economy, including US political uncertainty, anticipated global trade wars, and geopolitical tensions.
In premarket trading, FedEx shares surged after exceeding profit expectations, while Nike and US Steel saw declines.
European markets are also feeling the pressure, reflecting broader concerns about economic stability.
In Asia, the Nikkei 225 index dropped following the release of inflation data, and the Hang Seng index saw a modest increase.
Oil prices have experienced fluctuations, reflecting the broader economic uncertainties and geopolitical factors influencing global markets.
The euro has also seen movement in currency markets.
Market participants will be closely monitoring developments in the US and global economies, particularly government actions and monetary policy decisions.