US Markets return to declining path amid possibility of a government shutdown

The US markets returned to their declining path after a day of brief break, the caution about the possibility of a government shutdown, led the markets lower. Lawmakers continued to wrangle over a bill to keep the government running. In the Senate, lawmakers voted 54 to 44 to approve a temporary spending bill, with the vote coming down strictly along party lines. Budget spending needs to be agreed by the Congress before October 1 to prevent a government shutdown which could involve federal employees facing unpaid temporary leave and a delay in the payment of military personnel.

On the economic front, according to the Thomson Reuters/University of Michigan's final reading on the overall index consumer sentiment fell to 77.5 in September, hitting its lowest in nearly five months though still higher than a mid-month preliminary reading of 76.8. In other development, the Commerce Department released a report showing US personal income and spending both rose in line with estimates in August.The personal income rose by 0.4 percent in August following an upwardly revised 0.2 percent increase in July. The acceleration in the pace of growth matched expectations

The Dow Jones Industrial Average lost 70.06 points or 0.46 percent to 15,258.24, the Nasdaq declined by 5.83 points or 0.15 percent to 3,781.59, while the S&P 500 closed lower by 6.92 points or 0.41 percent to 1,691.75.

The Indian ADRs ended in red on Friday, HDFC Bank was down by 0.44%, ICICI Bank was down by 0.59%, Tata Motors was down by 0.39%, Wipro was down by 0.34% and Dr Reddy’s was down by 0.58%.