Scoreboard: Reality bites

Global equities took a hit as the market started to get serious about the US government shutdown.

Recall the unusual commentary from the European Central Bank, the Federal Reserve, the International Monetary Fund, the US Treasury and President Obama about how complacent markets were about the shutdown? Well I suspect policy makers will be much more relieved at market moves overnight – finally, investors are taking this seriously – because we saw a decent sell-off on global equities.

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