Business

Snapshot: Shutdown fears test September rebound

Until Friday, September had defied worriers. The stock market was rebounding from an August swoon. But Washington’s budget fight jolted investors, reminding them that the next few weeks could bring a lot of uncertainty. Wall Street hates uncertainty. Stocks fell in a sell-off that wiped out most of the gains from a rally after the Fed said it would keep its stimulus program intact. Friday, the US House voted to defund the president’s health care law. The vote wasn’t a surprise, but it reminded investors that the House and Senate are poised for a showdown over federal spending, with a government shutdown possible on Oct. 1.

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