US STOCKS SNAPSHOT-Futures fall as government shutdown seems likely

Reuters

NEW YORK, Sept 29 (Reuters) - U.S. stock index futures fellon Sunday as a last-minute deal to resolve the budget battle inWashington appeared less likely, making a government shutdownmore likely.

Such a shutdown is expected to impact markets by injectingmassive amounts of uncertainty into all asset classes. If a dealis reached quickly, that might allow markets to recover, but aprolonged shutdown could have significant implications foreconomic growth and consumer confidence.

S&P 500 futures fell 12.8 points and were below fairvalue, a formula that evaluates pricing by taking into accountinterest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures lost 73points and Nasdaq 100 futures sank 16 points.

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