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Market Updates: Stocks, Futures Begin New Quarter With Declines

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  • October opens on the  back foot for financial markets
  • Shares slum in Asia
  • S&P lowest than July close
  • Asian stocks and U.S. futures started October on the back foot, after the S&P 500 capped its biggest monthly selloff since March 2020 with further losses.

Shares slumped in Japan and Australia and U.S. contracts retreated. China began a week-long holiday and Hong Kong’s market was shut Friday. U.S. benchmarks fell Thursday even after confirmation that the House passed a nine-week spending bill to avert a U.S. government shutdown. The S&P 500 closed at the lowest level since July, extending its September losses to almost 5%. Economically sensitive companies like industrials and financials were among the worst performers.

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