U.S. stock futures are down on Tuesday night, following Congress’s failure to pass the funding bill, which will lead to the federal government shutting down after midnight.
On Tuesday evening, hours before the government shutdown, Russell Vought, the Director of the Office of Management and Budget, instructed the leaders of various federal agencies to begin preparations for an “orderly shutdown,” while noting that the duration is “difficult to predict.”
See Also: Who Gets The Blame For A Government Shutdown, Republicans Or Democrats? Here’s What Voters Say
The S&P 500 futures are down 0.40% or 27 points at 6,712.00, Nasdaq futures are down 104.50 points, or 0.42%, trading at 24,797.50, followed by Dow Futures, down 0.34%, or 157 points at 46,532.00.
Meanwhile, Japan’s benchmark Nikkei 225 is down 0.95%, or 491 points in early trading, extending its decline from previous trading days. Construction, engineering and other heavy industries stocks led the decline, while IT services, pharmaceuticals and entertainment stocks rally.
The U.S. Dollar Index (DXY) is flat on Tuesday, trading at 97.8338, amid growing concerns that the declining dollar could spark fresh inflationary pressures.
Investors will be closely watching stocks such as RPM International Inc. (NYSE:RPM), Acuity Inc. (NYSE:AYI) and ConAgra Brands Inc. (NYSE:CAG), which are set to release their quarterly earnings reports on Wednesday.
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