Dow Jones falls further as consumer sentiment crumbles
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The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks before barely managing to squeeze back to flat for the day as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation. Friday would have seen the release of the latest US Nonfarm Payrolls (NFP) jobs report, but the ongoing US government shutdown, which is officially the longest shutdown in US history, is crimping the flow of official data, leaving investors to grapple with volatile private data, and putting deep question marks where key inflation and employment numbers should be. US Senate Democrats prepared a minibus government funding solution for House Republicans to accept, which Republicans promptly rejected before headlines could even be written. Democrats were willing to suspend Affordable Care Act (ACA) healthcare provisions for an entire year in order to get the US government started back up, but Donald Trump’s Republican supporters within the US government remain unwilling to reopen federal government services unless Democrats are fully willing to allow between 15 and 40 million Americans lose access to critical healthcare coverage. Supplemental Nutrition Assistance Program benefits, also known as the SNAP program, have also been shuttered during this federal closure, marking the first time in US history that SNAP has been withdrawn during a government shutdown. SNAP provides food benefits for over 9% of American households, 80% of which contain children. Donald Trump’s administration has waffled severely on SNAP funding, stating that they will be fully, partially, or not funded depending on the day or who is asking the question. Consumer sentiment takes a knee University of Michigan (UoM) Consumer Sentiment survey results showed that US spenders and earners are far more bitter about worsening…
Filed under: News - @ November 7, 2025 11:30 pm